Which of the following approaches does not offer an international dependence explanation of underdevelopment?
a. the false paradigm model
b. the neoclassical counter-revolution
c. the dualistic development model
d. the neocolonial dependence model
B
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Suppose, in 2008, the federal debt was $5 trillion. That year, the United States ran a deficit of $455 billion. During the course of the year, the inflation rate was 3.8%. How much is the "inflation tax"?
What will be an ideal response?
The derivative, dAC(Q)/dQ = (1/Q2) {Q(dC/dQ) ? C(Q)}, illustrates that when:
A. MC(Q) < AC(Q), average costs increase as output increases. B. MC(Q) > AC(Q), average costs decrease as output increases. C. MC(Q) < AC(Q), average costs decrease as output increases. D. None of the answers are correct.
Refer to the normal-form game of advertising shown below.Firm AFirm B??AdvertiseDo Not Advertise?Advertise$0,$0$175,$10?Do Not Advertise$10,$175$125,$125Consider the advertising game in Figure 10-17. Firms A and B know the game will be played for exactly five periods. What is a Nash equilibrium to this game?
A. {do not advertise, do not advertise} provided the interest rate is less than 0.10 percent B. {advertise, advertise} C. {advertise, advertise} provided the interest rate is less than 0.50 percent D. {advertise, do not advertise}
According to international trade theory
A. every country has a comparative advantage in something. B. comparative advantage is based on absolute advantage. C. less developed countries cannot trade successfully with developed countries. D. trade is based on absolute advantage.