To build growth into its economy, a less-developed country must not
a. invest in education because the fruits of that investment is long run
b. focus on the infrastructure that has been its problem
c. shift resources out of the production of consumtion goods and into the production of capital goods because a healthy worker is a productive worker
d. shift resources out of the production of capital goods and into the production of consumption goods because they need capital to increase labor productivity
e. engage in curbing population because more workers means more output
D
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Why are generic pharmaceuticals significantly cheaper than name brand ones?
A.Generic pharmaceuticals are not protected by patent law, B.Brand name pharmaceuticals are not protected by patent law, C.The government allows knockoffs of patent-protected medicines in some cases. D.Generic pharmaceuticals are made by foreign companies that have lower costs.
In perfect competition, the buyers are usually looking for
a. easy entry b. familiar brands c. higher-quality goods d. volume discounts e. the lowest price
When a domestic monopolist becomes subject to international competition, it faces:
a. a perfectly inelastic demand curve. b. a unitary elastic demand curve. c. a perfectly elastic demand curve. d. no demand curve.
Inventories are
A. goods that have not been purchased but have been produced during the current year. B. consumer expenditures. C. part of the debt surplus. D. part of next exports.