Which of the following is a method by which a poor country might import technological change without having to incur the heavy expense of research and development (not to mention human and physical capital formation) out of its own saving?
A) Copy modern products made in rich countries.
B) Purchase imported machinery that embodies the latest technology.
C) Obtain investment by foreign firms.
D) All of the above.
D
You might also like to view...
The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social cost to the economy of Kaffenia of producing the 300th dozen doughnuts each day?
A) $10.00 per dozen B) $8.00 per dozen C) $6.00 per dozen D) $4.00 per dozen
Between 1950 and 2015 the productivity of wheat farmers in the United States more than doubled. This means that
A) the total amount of wheat produced more than doubled. B) the amount of land and other resources devoted to wheat production more than doubled. C) the amount of wheat produced by the average farmer more than doubled. D) the incomes of wheat farmers more than doubled.
Which of the following occurs when an employer refuses to hire a qualified individual due to the job applicant’s race, gender, or religion?
a. Discrimination b. Cognitive bias c. Affirmative action d. Racial profiling
If a natural monopoly increases the quantity of output it produces, then:
A. it will have to increase its price. B. its average cost will decrease. C. its profit will increase. D. its average cost will increase.