Over time, technology tends to:
A. diminish in nations that are still developing.
B. spread from country to country, equalizing opportunity costs.
C. allow developing nations to experience the "catch-up" effect.
D. set countries apart in terms of productivity.
Answer: B
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Is relative PPP a useful equilibrium concept for describing general trends in exchange rates? Under what kinds of circumstances would the concepts of PPP be best applied?
What will be an ideal response?
A government program that attempts to stimulate domestic production of a good in which the country has a natural comparative advantage because of its domestic resources is an example of a(n) ________ policy
A) primary-export-led B) import-substitution development C) outward-looking development D) linkage-effect
In many countries, the system of titling is:
A. weak, allowing more and faster investment. B. weak, slowing economic development. C. strong, slowing the amount of property transfer. D. strong, slowing economic growth.
The distinction between positive and normative economics
a. is that positive economics applies only to microeconomic problems b. is that normative economics applies only to microeconomic problems c. is the difference between an assumption and a conclusion d. helps us understand why economists sometimes disagree with one another e. explains why economics is not a social science