The shifting of trade to countries in a regional group at the expense of trade with countries not in the group is known as trade internalization.
a. true
b. false
b. false
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Define the economic concept of elasticity
What will be an ideal response?
In a simultaneous move game, the number of possible pure strategies a player can play is equal to the number of actions he can choose to take.
Answer the following statement true (T) or false (F)
Which of the following is NOT a government-run income maintenance program?
A) Social Security B) unemployment compensation C) temporary Assistance of Needy Households D) life insurance
All of the following contributed to the downfall of the Soviet Union in 1991 except
A) lack of high-quality goods and services. B) public dissatisfaction with low living standards and political repression. C) an inability to produce low-cost consumer goods that households wanted. D) lack of a strong dictator who could coordinate economic activities.