Economists believe that most individuals act as if they are motivated by self-interest and:
a. respond selfishly
b. respond in predictable ways to changing circumstances.
c. it leads to inconsistent and unpredictable behavior.
d. all of the above.
b
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All of the following were important colonial industries except:
a. tobacco production. b. production of ships' stores. c. manufacturing of finished metal products. d. shipbuilding.
If the U.S. dollar price of one Japanese yen was $0.009 in 1997 and $0.011 in 2001, then the reciprocal exchange rate adjusted from $1 = ¥111.1 in 1997 to $1 = ¥90.9 in 2001 . This implies that over this time period, the U.S. dollar experienced a depreciation relative to the Japanese yen
a. True b. False Indicate whether the statement is true or false
The most important advantages of bigness will be found in industries that show increasing returns to scale
a. True b. False Indicate whether the statement is true or false
Strategic trade policies are designed to increase the benefits of trade to
A. a single country. B. the world. C. everyone. D. the two countries entering an agreement.