Domestic law and order, the infrastructure, and the climate of international trade are all aspects of a country's:
A. natural resources endowment.
B. human resources investment.
C. capital investment.
D. political environment.
Answer: D
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At the equilibrium price, deadweight loss is minimized
a. True b. False Indicate whether the statement is true or false
One of the main drivers of industrialization in South Korea was
A. an increase in human capital. B. decreased trade with developed countries. C. the accumulation of new technology. D. trade with North Korea.
If Country A and Country B have the same population size, then the standard of living in these two countries can still be different depending on:
A. their respective political systems B. their relative geographic size C. the relative sizes of total output D. their respective inflation rates
One cost of unanticipated inflation is:
A. both lenders and borrowers lose. B. arbitrary redistributions of income. C. nominal income falls below real income. D. people cannot repay their debts.