A negative balance of trade is when ___________.
Fill in the blank(s) with the appropriate word(s).
imports are greater than exports
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Some governments have made great efforts to "formalize" informal firms by extending regulations and their enforcement. Might governments be better advised to ignore, or even help, informal firms?
What will be an ideal response?
In the discussion of correlation and causation, correlation means: a. two sets of phenomena may be related, but one does not necessarily cause the other
b. two sets of phenomena are not related and one may in fact cause the other. c. that when two phenomena are repeatedly observed together, one must cause the other. d. that if a groundhog sees his shadow in February, this phenomena causes there to be six more weeks of bad weather.
Free trade is ________, because it ________ the size of the pie available to the economy.
A. inefficient; decreases B. efficient; increases C. inefficient; increases D. efficient; decreases
All of the following increase the expected rate of return on R&D expenditures except:
A. patents. B. trademarks. C. imitation by others. D. trade secrets.