The term "industrial policy" refers to:
a. the policy that industries develop to promote growth
b. the industrial policy related to marketing strategies.
c. the illegal activity that firms sometimes engage in to reduce competition.
d. the government policy that aims at enhancing the competitiveness of domestic firms.
e. the government policy that primarily aims at protecting domestic jobs.
d
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Economic theory has traditionally focused on optimality in decision making.
Answer the following statement true (T) or false (F)
The unemployment rate will decrease whenever there is a(n) _____
a. increase in the number of persons classified as unemployed b. decrease in the number of unemployed persons relative to the size of the labor force c. decrease in the size of the population and no change in the number of persons classified as employed d. reduction in the size of the labor force e. decrease in the number of unemployed persons and no change the population
Which of the following is NOT one of the basic questions that an economic system attempts to answer?
A) How to identify what people need? B) What to produce? C) How will goods and services be produced? D) For whom will goods and services be produced?
The current account is the sum of ________
A) net exports, net factor income from abroad and net transfers from abroad. B) consumption, investment, and government expenditure C) net exports and net investment from abroad D) net exports and net transfers from abroad