The value of what KFC produces in Japan is included in the U.S. ________ and in the Japanese ________.
A. GDP; GNP
B. GNP; GNP
C. GDP; GDP
D. GNP; GDP
Answer: D
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The study of development economics is to understand
A) the personality factors that lead people to become entrepreneurs. B) why most of the patents on record have been given to men rather than to women. C) why some countries are rich and others are poor. D) why some products are successful in the market as soon as they are developed, whereas others do not catch on for years.
When tastes are risk averse, an individual will always choose less risk over more risk.
Answer the following statement true (T) or false (F)
A "kinked" demand curve reflects a tendency on the part of an oligopolist to:
a. follow price increases but not price reductions. b. following price reductions but not price increases. c. be unconcerned with rivals' behavior. d. None of these.
If buyers expect the price of a good to fall in the near future, we would expect that to cause the current price and the quantity traded to decrease as a result
a. True b. False Indicate whether the statement is true or false