It is sometimes difficult to transfer the advanced technologies of the industrialized nations to the DVCs because:
A. the technologies of the IACs are frequently based on relatively expensive labor and
relatively cheap capital.
B. the resource endowments of the IACs and the DVCs are highly similar.
C. international patent laws prohibit such transfers.
D. the technologies of the IACs are frequently based on relatively cheap labor and relatively
expensive capital.
A. the technologies of the IACs are frequently based on relatively expensive labor and
relatively cheap capital.
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
The price elasticity of demand is calculated as the absolute value of the
A) percentage change in quantity demanded divided by the percentage change in price. B) percentage change in price divided by the percentage change in quantity demanded. C) change in quantity demanded divided by the change in price. D) change in price divided by the change in quantity demanded.
Antitrust laws attempt to
A) support prices at high levels so firms can earn profits. B) establish minimum wages. C) prevent monopolies or collusion. D) enforce fair trade laws.
A side effect of an action that affects the well-being of third parties is
A. a marginal cost. B. a marginal private benefit. C. an externality. D. a and b E. all of the above