New trade theory, which states that countries may have an advantage in exporting because of first-mover advantages, is different from which theory that says countries have export advantages because of factor endowments?
What will be an ideal response?
Heckscher-Ohlin
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A decrease in consumer spending can be expected to shift the aggregate expenditures curve ________.
A. downward and the aggregate demand curve leftward B. upward and the aggregate demand curve rightward C. upward and the aggregate demand curve leftward D. downward and the aggregate demand curve rightward
What special challenges existed for the former communist countries (Central and Eastern European countries and members of the Commonwealth of Independent States) transitioning from centrally planned economies to market-based economies? How successful have these countries been?
What will be an ideal response?
The point of saturation occurs when a firm
A. has total returns equal to zero. B. maximizes its total returns. C. first encounters negative marginal product. D. first experiences positive marginal product.
A reason that economists keep an eye on both M2 and M1 is because
A) money market accounts are sometimes used like checking accounts and sometimes like savings accounts. B) during a recession, M1 is meaningless. C) M2 is more accurate than M1. D) both fluctuate widely and frequently in total dollar value.