If a rich country reduced subsidies to domestic producers of goods that poor countries have a comparative advantage producing, the standard of living in these poor countries would likely rise
a. True
b. False
Indicate whether the statement is true or false
True
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A nation's average annual real GDP growth rate is 6%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is
A. 15 years. B. 12 years. C. 20 years. D. 17 years.
Rank the following goods from least to most elastic: compact cars, convertible compact cars, cars
A) Cars, convertible compact cars, compact cars B) Compact cars, convertible compact cars, cars C) Convertible compact cars, compact cars, cars D) Cars, compact cars, convertible compact cars
By spreading her investments out over many different assets, an investor achieves
A) a higher expected return. B) increased risk. C) diversification. D) greater liquidity.
Refer to Figure 9.6. As a result of this policy, producer surplus will be
A) $2000. B) $3375. C) $4500. D) $6000. E) $12,000.