Specialized growth is typically the result of an increase in the ability of resources to
A. compete with imported goods.
B. produce all goods.
C. produce certain goods.
D. produce exported goods.
Answer: C
You might also like to view...
A situation in which money buys the same amount of goods and services in different currencies is called
A) a fixed exchange rate. B) purchasing power parity. C) exchange rate surplus. D) exchange rate equilibrium. E) exchange rate balance.
When total production is greater than total expenditures,
A) the economy is in disequilibrium. B) there are increases in inventory. C) total output will decrease. D) all of the above
Many developing countries face a balance of payments constraint because:
A. they fail to implement exchange rate policy correctly. B. they hold too few international reserves. C. they hold too many international reserves. D. the IMF forces them to adopt policies that are counterproductive.
According to the quantity theory:
A. unemployment is everywhere and always a monetary phenomenon. B. the equation of exchange does not hold true. C. inflation is everywhere and always a monetary phenomenon. D. real output is everywhere and always a monetary phenomenon.