Economic growth generally leads to
A. intensified disinflation.
B. higher rates of deflation.
C. higher rates of inflation.
D. higher living standards.
Answer: D
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Recall the Applied Perspective concerning Morocco, Coca-Cola, and Multipliers. Coca- Cola's decision to set up a bottling plant in Tangier has
a. created upstream and downstream linkages that accounted for 0.7 percent of Morocco's 1999 GDP b. had minimal impact on Morocco's economy c. created a backlash against the Westernization of the Moroccan economy d. created little new employment since the bottling plant is highly automated e. resulted in the bankruptcy of local, traditional, soft drink manufacturing firms
Q.E.
What will be an ideal response?
One reason for the year-to-year instability of agricultural product demand is the:
A. High price-elasticity for agricultural products B. Fluctuations in weather patterns C. Declining role of technological progress in agriculture D. Greater dependence on exports to foreign markets
Which is least accurate about foreign trade?
a. In the early 1900s, the most industrialized nations exported foodstuffs and raw materials to the least developed countries. b. After the Civil War, rapid improvements in communications, like the first successful transatlantic cable, lowered the price of trade. c. After the Civil War, rapid improvements in transportation, like the opening of the Suez Canal and developments of railroads, reduced the price of shipping. d. In the late 1800s and early 1900s the network of international trade assumed many of its modern characteristics.