The future of any region dependent on export industrial growth is influenced by:
(a) the region's natural endowment at given technology levels.
(b) the character of the export industry.
(c) subsequent changes in technology and transport costs.
(d) all of the above.
(d)
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This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.The outcome of the game in the figure shown predicts that Joe will earn utility of:
A. 9. B. 13. C. 5. D. 7.
The best price index to use in calculating real GDP is
A. The PPI. B. The CPI. C. Any of the indexes because they all reflect price level changes. D. The GDP deflator.
If the MPC is .70 and investment increases by $3 billion, the equilibrium GDP will:
A. increase by $10 billion. B. increase by $2.10 billion. C. decrease by $4.29 billion. D. increase by $4.29 billion.
In the above figure, curve A is the ________ curve and curve B is the ________ curve
A) total variable cost; total fixed cost B) total cost; total fixed cost C) total fixed cost; total variable cost D) total cost; total variable cost E) total variable cost; total cost