Creative destruction is least beneficial to:
A. workers in the "destroyed" industries.
B. workers in the "created" industries.
C. consumers.
D. society as a whole.
Ans: A. workers in the "destroyed" industries.
You might also like to view...
According to the Gordon-Growth model, what is the value of a stock with a dividend of $1, required return on equity of 10% and expected growth rate of dividends of 5%?
A) $2 B) $10 C) $20 D) $21
What is the real GDP after four years if Country X's average annual growth rate is 8.6 percent and the initial real GDP was $2,756.0 million?
A) $2,993.0 million B) $3,833.5 million C) $1,077.5 million D) $3,250.4 million
One way to reduce exports is to
A) base trade on comparative advantage. B) base trade on opportunity costs. C) trade with poor countries. D) restrict imports.
Mark Frost grows apples in a perfectly competitive market. If we drew a line in a graph that illustrates Mark's total revenue from selling apples, it would be
A) a straight, upward-sloping line. B) a horizontal line. C) a straight, downward-sloping line. D) a curve that is negatively sloped at low levels of output and positively sloped at higher levels of output.