The effectiveness of a country's military expenditures depends on _____
a. how much other nations spend in response
b. whether or not they are in an arms race
c. whether they have effectively estimated demand for national defense
d. depends on the size of a country
a
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When correcting for an externality, command-and-control policies are always preferable to market-based policies
a. True b. False Indicate whether the statement is true or false
Build-Right Concrete Products produces specialty cement used in construction of highways. Build-Right is a price-setting firm and estimates the demand for its cement by the State Highway Department using a demand function in the nonlinear form:Q = aPbMc
where Q = yards of cement demanded monthly, P = the price of Build-Right's cement per yard, M = state tax revenues per capita, and PR = the price of asphalt per yard. The manager at Build-Right transforms the nonlinear relation into a linear relation for estimation. The estimation results are presented below: 
height="198" width="577" />Given the above, if the price of asphalt (PR) decreases 20%, the estimated quantity of cement demanded will: A. increase 1.2% B. increase 12% C. decrease 1.2%. D. decrease 12%. E. increase 6%
Assume there are only two goods in the economy, apples and bananas. In 2018, 1,400 apples were sold at $1 each and 8,500 bananas at $0.60 each. In 2019, the price of apples rose to $2 and the quantity rose to 2,400; the price of bananas rose to $0.80 and the quantity sold rose to 9,000.
What will be an ideal response?
The following situation is an example of an export promotion strategy. Guatemala has a comparative advantage in the production of bananas and, as a result, the Guatemalan government grants incentives to banana growers to improve their performance in the international marketplace.
Answer the following statement true (T) or false (F)