All of the following are factors that limit a poor nation's economic growth except
A. lack of human capital.
B. insufficient capital formation.
C. lack of entrepreneurial ability.
D. insufficient controls on free trade.
Answer: D
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Refer to the above figure. Use the DD-AA model to examine and compare the response of an economy under fixed and floating exchange rate to a temporary fall in foreign demand for its exports
What will be an ideal response?
Which of the following problems best describes what may occur when Dixie hires an attorney to help in her child-custody suit?
a. the winner's curse b. a signaling problem c. a principal-agent problem d. an adverse selection problem e. unemployment
Structural unemployment includes: a. unemployment caused by workers who leave positions to seek better jobs
b. unemployment caused by automation that displaces workers from their jobs. c. unemployment caused by a decline in the economy's total production. d. unemployment caused by the geographical and occupational mobility of the labor force.
One way that natural monopolies are typically regulated is
a. by setting a price that makes economic profit zero. b. by forcing the firm to set price equal to marginal cost c. by setting a price that gives owners a "fair rate of return" d. by forcing the firm to set price equal to minimum average total cost e. by setting a price that maximizes the firm's economic profit