Government picking winners
A) is the market model.
B) is the central planning model.
C) can be done with really good data.
D) none of these choices.
B
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Figure 4.3 illustrates the demand for tacos. A successful advertising campaign to sell tacos would bring about a movement from:
A. point a to point b. B. point c to point b. C. D2 to D1. D. D0 to D1.
What does monopolistic competition have in common with perfect competition?
A) a large number of firms and freedom of entry and exit B) a standardized product C) product differentiation D) the ability to earn an economic profit in the long run E) barriers to exit but no barriers to entry
Between August 2007 and July 2008, Brazil exported more than 3.5 billion pounds of coffee to the rest of the world. These exports mean that
A) Brazil has comparative advantage in coffee production. B) the rest of the world has comparative advantage in coffee production. C) the rest of the world has absolute advantage in coffee production. D) Brazil has absolute advantage in coffee production.
How are goods and services produced in the global economy?
A. Developing countries use less human capital but just as much physical capital as advanced economies. B. Emerging economies use more capital-intensive technology than do developing economies. C. Human capital in all economies is similar. D. Advanced economies use less capital than developing economies.