Which of the following accurately depicts the situation of India's trade in services and what it might mean for the global economy?
A) It is not perceived as threatening to the industrialized nations so it is likely to grow without any impact.
B) Because it is nothing new, other economies have had time to adjust.
C) It creates only harm to other national economies.
D) It may lead to protectionist sentiment and policies in other nations as comparative advantages shift.
D
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Your textbook discusses "dry" counties in the U.S. What is a dry county?
A) A county where rainfall is below the national average B) A county that experiences no rainfall C) A county in which it is illegal to produce, purchase and sell alcohol D) A county in which only dry gin is consumed
In the figure above, the substitution effect outweighs the income effect in all segments EXCEPT
A) 0a. B) 0c. C) bc. D) cd.
A bond buyer is a
a. saver. Bond buyers must hold their bonds until maturity. b. saver. Bond buyers may sell their bonds prior to maturity. c. borrower. Bond buyers must hold their bonds until maturity. d. borrower. Bond buyers may sell their bonds prior to maturity.
The Illinois Central Railroad once asked the Illinois Commerce Commission for permission to increase its commuter rates by 20 percent. The railroad argued that declining revenues made this rate increase essential. Opponents of the rate increase contended
that the railroad's revenues would fall because of the rate hike. It can be concluded that: A. both groups felt that the demand was elastic but for different reasons. B. both groups felt that the demand was inelastic but for different reasons. C. the railroad felt that the demand for passenger service was inelastic and opponents of the rate increase felt it was elastic. D. the railroad felt that the demand for passenger service was elastic and opponents of the rate increase felt it was inelastic.