The ability of capital deepening by itself to generate sustained economic growth is limited because of the law of diminishing marginal returns
a. True
b. False
Indicate whether the statement is true or false
True
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For the CPI to provide an accurate measure of the prices paid by urban consumers, it is necessary to
A) have a market basket that is consistent and corresponds to what households actually purchase. B) make certain that the incomes of the consumers surveyed do not change because such a change would affect the market basket of the goods and services they buy. C) change the market basket each month to reflect the changes that consumers make. D) assign equal weights to all the goods and services included in the market basket surveyed so that nothing is over-weighted. E) have prices stated in dollars so consumers can compare what they spend.
Marginal cost is the ________ one more unit of a good and ________ of the good increases
A) opportunity cost of producing; increases as production B) opportunity cost of producing; decreases as production C) price that must be paid to consume; increases as consumption D) price that must be paid to consume; decreases as consumption
Dumping refers to countries exporting unwanted and inferior products to other countries
Indicate whether the statement is true or false
One of the major issues that arose during the Doha round of negotiations involved complaints by ________ about ________
A) developing countries; agricultural subsidies. B) manufacturers; intellectual property C) industrialized countries; enforcement of contracts D) Eastern European countries; European Union tariffs E) South and Central American countries; domestic content requirements