A nation that has done well economically in spite of a lack of natural resources is
a. the United States.
b. Japan.
c. Canada.
d. Australia.
b. Japan.
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In understanding the differences of the impact of globalization on inflation in various nations it is important to consider
A) the degree of development in a nation. B) the structure of income taxes in the country. C) the degree of central bank independence. D) all of the above.
Refer to the table below. Relative to Free Cows, Happy Cows' marginal cost curve is ________, which makes an accurate forecast ________ valuable to the managers of Happy Cows.
Happy Cows and Free Cows are two separate perfectly competitive dairy farms. The table above shows the respective firms' marginal cost at various production levels.
A) steeper; more
B) flatter; less
C) steeper; less
D) flatter; more
Many communities have granted monopoly rights to cable companies. This is an example of a monopoly created through: a. government licensing
b. ownership of the cable resources. c. patent protection. d. smart business practices by shrewd entrepreneurs.
If firms in a perfectly competitive market have dissimilar cost curves what will be the shape of the long-run supply curve?