The concept of "global competitiveness"
A) is not practical because economic well-being is evaluated within each country.
B) means that the economic well-being of each nation must be compared with nations with same size population.
C) means that the economic well-being of each nation must be compared with nations on the same continent.
D) means that the export-import ratio of each nation must be compared.
Answer: A
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Should the level of pollution be reduced to zero, and if not, then to what level?
What will be an ideal response?
Jessica must choose option A or option B. Option A gives her $10,000 for sure. Option B gives her $5,000 if a fair coin toss shows heads and $15,000 if it shows tails. If Jessica is risk averse her utility of wealth curve becomes
A) flatter as her wealth increases and she will choose option A. B) flatter as her wealth increases and she will choose option B. C) steeper as her wealth increases and she will choose option A. D) steeper as her wealth increases and she will choose option B.
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A) the average level of the prices of goods and services sold B) the rental price of capital C) the wage rate D) all of the above E) none of the above
Which of the following would not shift the demand for resource Z? a. A decline in the price of resource Z
b. A decline in the price of substitute resource A. c. An increase in the productivity of resource Z. d. An increase in the price of the product resource Z is used to produce.