When considering international trade, which of the following would be most conducive to domestic economic growth?
A. an economy with free and open markets to the outside world
B. an economy in which its domestic industries are protected by tariffs
C. an economy in which most decisions are made by a central governmental authority
D. a closed economy
Answer: A
You might also like to view...
When a nation has no funds to finance economic development, how can it acquire the needed funds? Is the country a net lender or a net borrower?
What will be an ideal response?
Refer to Scenario 12.2. Suppose that the marginal cost increases such that:
MC = Q + 10 What is the profit maximizing level of output? A) 171.43 B) 120 C) 150 D) all of the above E) none of the above
Which of the following is an example of market failure?
a. Public goods. b. Externalities. c. Lack of competition. d. all of these.
A country has an absolute advantage over another if it can produce a good with fewer resources
a. True b. False Indicate whether the statement is true or false