Trade can stifle the development of industries than might be more efficient than existing ones
Indicate whether the statement is true or false
TRUE
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Oligopoly: a. Meets the condition for allocative efficiency. b. Meets the condition for productive efficiency. c. Leads to slower technological progress
d. None of the above is true.
The quantity sold in a market will increase if the government
a. decreases a binding price floor in that market. b. decreases a binding price ceiling in that market. c. increases a tax on the good sold in that market. d. More than one of the above is correct.
As a general rule, what impact does technological progress have on a PPC?
What will be an ideal response?
Under a pure gold standard,
A) exchange rates float most of the time. B) money is worth more than under other systems. C) nations must buy and sell gold to settle international obligations. D) there is no inflationary pressure.