One of the important points of criticism of industrial policy is that:
a. it can lead to stiff competition among the domestic firms in an economy.
b. small domestic firms will not be able to survive economic clustering
c. government sponsored research will end up benefitting foreign countries.
d. it can prohibit regional innovations.
e. the knowhow in one firm will not spill over to other firms in an economy.
c
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Which of the following would be removed from the U.S. aggregate demand measurement?
A. Japan’s purchase of General Electric combines from the United States B. China’s purchase of soybeans from U.S. farmers C. A foreign tourist’s purchase of New York City Statue of Liberty keychains D. An American professor’s purchase of a vintage manuscript from Rome, Italy
An adverse supply shock shifts the short-run Phillips curve right. If people raise their inflation expectations, the short-run Phillips curve shifts farther right
a. True b. False Indicate whether the statement is true or false
Which of the following public policies would be least likely to result in more rapid economic growth for a poor or developing country?
a. policies designed to promote economic development in coastal areas b. policies designed to foster strict enforcement of property rights c. policies designed to foster free trade d. inward-oriented policies
Income is a flow measure.
Answer the following statement true (T) or false (F)