Which of the following is a term for an innovative new product or production technology which disrupts the status quo in a market, leading the innovators to earn more income and profits and the other firms to lose income and profits, unless they can come up with their own innovations?
a. disruptive technological change
b. disruptive market change
c. disruptive trade change
d. disruptive transfer change
b. disruptive market change
The term for an innovative new product or production technology which disrupts the status quo in a market, leading the innovators to earn more income and profits and the other firms to lose income and profits, unless they can come up with their own innovations is disruptive market change.
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The gravity model offers a logical explanation for the fact that
A) trade between Asia and the U.S. has grown faster than NAFTA trade. B) trade in services has grown faster than trade in goods. C) trade in manufactures has grown faster than in agricultural products. D) Intra-European Union trade exceeds international trade by the European Union. E) the U.S. trades more with Western Europe than it does with Canada.
For the additive social welfare function to yield results, we must assume
A. individuals have identical utility functions. B. individuals' utility functions have diminishing marginal utility of income. C. the total amount of income available is fixed. D. all of these answer options are correct.
The GDP can overstate the economy because ___________.
a. it excludes self-production, increased leisure time, and improved health. b. it includes self-production, increased leisure time, and improved health. c. it excludes harm caused by pollution, crime, and income inequality. d. it includes harm caused by pollution, crime, and income inequality.
If a person is going to pay $500 per month every month for 5 years, what do you know about their car loan (if the interest rate is positive)?
A. The loan amount was exactly $30,000. B. The loan amount was less than $30,000. C. The loan amount was more than $30,000. D. Nothing.