Senator Noitall says that in order to help poor countries develop, the United States should: 1 . Encourage poor countries to allow U.S. and other foreign firms to build and operate businesses in their country; 2 . Reduce or eliminate subsidies to U.S. producers when poor countries have a comparative advantage producing goods the U.S. subsidizes; 3 . Work to promote political stability in poor
countries; and 4 . Reduce poor countries reliance on market forces in their economies. How many of these ideas are likely to help poor countries grow?
a. 1
b. 2
c. 3
d. 4
c
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Is optimization analysis positive or normative, or both? Explain your answer
What will be an ideal response?
Endogenous growth theory rejects the assumption of exogenous
a. production functions. b. knowledge. c. technology. d. both b and c. d. all of the above.
A monopolist would probably earn fewer profits if
A) the importance of specialized capital equipment in its production techniques increased. B) the time length of patents increased. C) environmental regulations increased that required the purchase of special capital equipment. D) tariffs on competing products were lowered.
Assume that the total utilities for the fifth and sixth units of a good consumed are 83 and 97, respectively. The marginal utility for the sixth unit is:
a. -14 b. 14 c. 83 d. 97