Trade contributes to prosperity because:
A. every country lacks some vital resources that it can get economically only by trade.
B. each country's climate makes it a relatively efficient producer of some goods, and an inefficient producer of other goods.
C. each country's labor force makes it a relatively efficient producer of some goods, and an inefficient producer of other goods.
D. all of the above.
D. All of the above
every country lacks some vital resources that it can get economically only by trade, each country's climate makes it a relatively efficient producer of some goods, and an inefficient producer of other goods, and each country's labor force makes it a relatively efficient producer of some goods, and an inefficient producer of other goods.
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There are fewer than half as many publishers of college textbooks in the United States now as a generation ago. Three companies alone account for almost two-thirds of the sale of new textbooks
This market situation characterized by very few sellers is known as A) an oligopoly. B) perfect competition. C) pure monopoly. D) monopolistic competition.
In the above figure, what would be the profit or loss at the marginal cost pricing point for this natural monopolist?
A) -$300 B) $2,700 C) $2,100 D) -$1,200
A supply curve slopes upward because quantity supplied is higher when price is higher
a. True b. False Indicate whether the statement is true or false
The president of a poor country has announced that he will implement the following measures that he claims are designed to increase growth: 1 . Reduce corruption in the legal system; 2 . Reduce reliance on market forces because they allocate goods and services in an unfair manner; 3 . Restrict investment in domestic industries by foreigners because they take some of the profits out of the
country; 4 . Encourage trade with neighboring countries; and 5 . Increase the fraction of GDP devoted to consumption. How many of these measures will have a positive effect on growth? a. 1 b. 2 c. 3 d. 4