How can government best promote domestic industry?
What will be an ideal response?
The key here is to choose positive steps - R&D, training, promoting competition - as opposed to restrictive steps that favor particular firms and create monopolies.
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Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn02400480301802036060120402409060601201200800Giovanni's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn. Jorge's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/6, 1/2 B. 6,2 C. 1/2,1/6 D. 2,6
Explain how automatic stabilizers work
What will be an ideal response?
If aggregate demand decreases and neither short-run nor long-run aggregate supply changes, then
A) the price level increases in the short-run and decreases in the long run. B) there is an inflationary gap. C) there is a recessionary gap. D) in the long run, the long-run aggregate supply will decrease.
An insurance policy is a product that:
A. involves a company paying individuals very large sums of money if they encounter any risk. B. involves individuals paying a regular fee in return for an agreement that the insurance company will cover all expenses associated with risky behavior. C. involves individuals paying a company to ensure they don't experience any risk. D. allows people to pay to reduce uncertainty in some aspect of their lives.