The Heckscher-Ohlin (H-O) theory suggests that research and development activity is most likely to be concentrated in countries which
A. are skilled-labor abundant.
B. specialize in the production of primary commodities.
C. are more self-reliant.
D. are capital-abundant.
Answer: A
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Industries in which firms have high fixed costs and low marginal costs are likely to have a:
A. large number of small firms. B. large number of large firms. C. small number of small firms. D. small number of large firms.
Assume that a 50 percent gasoline tax led to a large increase in its price and only a small decrease in the quantity of gasoline demanded. Economic analysis would lead one to conclude that
A) gasoline should not be taxed because the benefits are uncertain. B) the benefits of taxing gasoline is a normative issue. Economic analysis can be used to contribute to discussion of this issue but cannot decide it. C) gasoline should be taxed because the benefits of the tax would exceed the costs. D) gasoline should not be taxed on ethical grounds since ethical benefits and costs can't be measured.
Does it appear that currency boards make low-inflation policies credible?
What will be an ideal response?
About _____% of Americans between the ages of 25 and 60 will experience at least one year below the official poverty line
a. 3% b. 10% c. 27% d. 40%