Globalization has increased the demand for the logistical support and marketing sectors, but has led to a decline in the manufacturing industry. The effects of this are the same as those caused by the:
A. renewable curse.
B. common curse
C. resource curse.
D. depreciation curse.
Answer: C
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The crowding-out effect is the tendency for
A) higher government budget deficits to increase total savings. B) lower private saving to decrease investment. C) higher government budget deficits to decrease investment. D) higher private savings to decrease government budget surpluses. E) lower private saving to increase the budget deficit.
Debt service
A) is rarely an issue for high-income countries. B) always makes a country worse off for having borrowed. C) is a problem when the amount of debt is small relative to the size of the economy. D) tends to benefit low- and middle-income countries at the expense of high-income countries.
Only government restrictions serve as entry barriers.
Answer the following statement true (T) or false (F)
Economic rent is the portion of a resource's total earnings above its opportunity cost
Indicate whether the statement is true or false