Which of the following provides the fuel for growth and
What will be an ideal response?
a. gains from trade
b. entrepreneurial discovery
c. capital formation
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The above table gives some cost data for Peter's Pickles. Peter's fixed cost is $20. The average total cost (ATC) when 5 barrels of pickles are produced is
A) $22. B) $26. C) $35. D) There is not enough information to answer the question.
In general, the number of years it will take for income to double at the current real growth rate is approximately:
A. 70 divided by the growth rate. B. 50 divided by the growth rate. C. 7 times the growth rate. D. 5 times the growth rate.
Which two countries ran substantial trade surpluses for most of the last three decades?
a. Germany and Russia b. Russia and Japan c. Germany and Japan d. Germany and Mexico
The "active antitrust perspective" in policy enforcement strongly espouses the following beliefs, except:
A. Firms occasionally use illegal tactics to gain over competitors B. Antitrust authorities must act like officials in a football game C. Competition and creative destruction could lead to monopolies D. When competition is insufficient, allocative inefficiencies will occur