Which of the following identifies correct reasons for the sustained growth in the Western world post 19th century?
A) Demographic transition and the American civil war
B) The American civil war and the Industrial Revolution
C) The Agricultural Revolution and the Industrial Revolution
D) Demographic transition and the Industrial Revolution
D
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A "Credible Threat"
A) is also called a "tit-for-tat" strategy. B) always set a low price. C) minimizes the return of your opponent. D) is a strategy selection that is in your best interest. E) provides the best return for both players.
The text states that the Herfindahl-Hirschman Index (HHI) for electronic computers is 680, while the HHI for chocolate is 2,188 . We can interpret this to mean that
a. people buy more chocolate than computers b. the price of computers is higher than the price of chocolate c. the demand for computers is relatively more inelastic than the demand for chocolate d. market power is more heavily concentrated in the chocolate market than in the computer market e. computers are more of a necessity than chocolate
.The law of comparative advantage implies that a nation, individual, or region should trade for those economic goods for which it
What will be an ideal response?
Which best explains why competition is an important part of a free-market system?