We know that industrial countries tend to trade with other industrial countries. This pattern counters the:
a. preference theory of comparative advantage.
b. factor abundance theory of comparative advantage.
c. concept of intraindustry trade.
d. product life cycle theory of comparative advantage.
e. human skills theory of comparative advantage.
b
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Reform of a country's trading system, including the reduction or elimination of trade barriers, is an example of
A) an orthodox stabilization plan. B) a heterodox stabilization plan. C) economic populism. D) import substitution industrialization. E) structural reform.
Which of the following is not a form of social insurance?
a. Social Security b. Temporary Assistance for Needy Families c. Medicare d. unemployment insurance e. workers' compensation
_____ is an online venue where businesses and individuals can hedge their uncertainty about whether legislation that affects them will be enacted
a. The American Civics Exchange b. Tradesports c. The Iowa Electronic Markets d. The Gallup and Roper surveys
In practice, monopolistically competitive markets are:
A. very rare. B. virtually nonexistent. C. the only type of market that truly exists. D. very common.