Countries with more than 80 percent of their population living within 100 kilometers of a coast will have an average GDP per person that is
a. around four times a country with less than 20 percent of the population living near the coast.
b. around ten times a country with less than 20 percent of the population living near the coast.
c. around twenty times a country with less than 20 percent of the population living near the coast.
d. around fifty times a country with less than 20 percent of the population living near the coast.
a
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How was South Korea able to become one of the East Asian Economic Miracles?
What will be an ideal response?
When you have a job and your employer compensates you for your time with money, resulting in both of you being better off, it is an example of a voluntary exchange.
Answer the following statement true (T) or false (F)
Specialization and trade allow a country to
A. produce on its production possibility frontier and consume outside it. B. produce and consume on its production possibility frontier. C. produce and consume inside its production possibility frontier. D. produce and consume outside its production possibility frontier.
Vertical integration can
A) lower transaction costs due to lower costs of writing and enforcing contracts. B) increase management costs and complexity. C) reduce problems between owners and managers. D) All of the above.