One obstacle to the adoption of the export promotion model by countries in other regions is that
A) the Uruguay Round of the GATT forbids many types of export promotion policies.
B) the Washington Consensus opposes the spread of this model.
C) research and development for new exports is too expensive.
D) only noncommercial R&D is permitted under the rules of the GATT.
E) industrial monopolies in the high-income countries will block further exports by developing countries.
A
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The amount of consumption in an economy correlates
A. directly with the level of saving. B. directly with the level of disposable income. C. directly with the rate of interest. D. inversely with the level of disposable income.
Consider the two statements: I. X is an inferior good. II. X exhibits Giffen's Paradox. Which of the following is true?
a. I implies II, but II does not necessarily imply I. b. II implies I, but I does not necessarily imply II. c. I and II are statements of the same phenomenon.
Which group of American-born workers is most affected by immigrants entering the U.S. labor force?
a. High school students b. Blue collar workers c. Skilled trades workers d. White collar workers
An increase in AD will trigger more inflation under which of the following conditions?
a. AD is relatively steep. b. AD is relatively flat. c. AS is relatively steep. d. AS is relatively flat.