In the Soviet Union, most goods and services were produced by __________________.
Fill in the blank(s) with the appropriate word(s).
the government
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Suppose the country of Maverick has specialized in the production of a good but has not yet entered into trade. At this point in time, Maverick has
A. Shifted its production possibilities curve outward. B. Moved to a level of consumption outside its production possibilities curve. C. Moved along its existing production possibilities curve. D. Moved to a level of production outside its production possibilities curve.
New trade theory is very useful in explaining trade patterns
a. true b. false
All of the following are sources of increasing returns and economies of scale except:
A. network effects. B. the multiplier effect. C. learning by doing. D. simultaneous consumption.
Which country was among the lowest ranking by the World Bank for effective protection of property rights and rule-based governance?
a. South Korea b. Venezuela c. Central African Republic d. Iran