Which of the following is the best explanation of exports and imports in China and India?
A) Exports are heavily subsidized through government policy.
B) Many barriers to imports exist.
C) Exports and imports are tied together, with exports depending on imported inputs and technology.
D) Imports are not important to either nation's economy.
C
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A example of a good with external benefits is
A) a pizza. B) a dose of flu vaccine. C) a sewing machine. D) an imported good. E) a pair of running shoes.
What has been the most significant obstacle to progress in the Doha Round?
What will be an ideal response?
In general, one would expect that life expectancies reflect international differences in income levels. Do the data support such a claim?
A) Average life span falls as relative poverty falls. B) Average life span increases as relative poverty falls. C) There is no statistically significant relationship between the two. D) The relation is not very strong. E) The relationship looks more like a U-shape.
In the benchmark competitive case, the firm will expand the hiring of employees until the marginal revenue product is
A. equal to the market wage rate. B. greater than the market wage rate. C. the square of the market wage rate. D. less than the market wage rate.