The disastrous famine in North Korea was the result, in great part, of the government's efforts to develop
a. new trade bloc
b. stronger military
c. market economy
d. large middle class
Ans: b. stronger military
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Use the following graph of the demand for noodles to answer the question below.
Refer to the three demand curves for noodles. Which of the following would shift the demand for noodles from D1 to D2?
A. an increase in the number of buyers of noodles B. People hear that eating noodles can have negative health effects. C. a decrease in the price of noodles D. a decrease in the number of buyers of noodles
Which of the following is true of a successful cartel?
a. A successful cartel offers consumers the lowest possible price for a product. b. A successful cartel minimizes profits for its members. c. A successful cartel behaves as a monopolist in the market. d. A successful cartel produces a quantity greater than that produced in a competitive market. e. A successful cartel is always stable.
The principal reason why Thailand, Indonesia, and South Korea feared the effects of appreciation of the U.S. dollar in 1995–1997 was that
A. it would increase exports from these countries and worsen Japanese. B. it would increase exports from these countries and worsen unemployment. C. it would decrease exports from these countries since their currencies were tied to the dollar. D. it would decrease imports to these countries since their currencies were tied to the dollar.
Sticky wages cause the:
A. short-run aggregate supply curve to slope upward. B. long-run aggregate supply curve to slope upward. C. short-run aggregate supply curve to slope downward. D. long-run aggregate supply curve to slope downward.