Developing countries might be unable to respond smoothly to changing international price signals because of

(a) a lack of government regulation.
(b) an abundance of skilled labor.
(c) inelastic supply curves.
(d) limited foreign exchange.


C

Economics

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If the MPS = 0.25, and intended investment falls from $100 to $75, national income will decrease by

a. $25 b. $75 c. $150 d. $125 e. $100

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Since an individual spends a small share of her income on salt, the elasticity of demand is likely to be low

a. True b. False Indicate whether the statement is true or false

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All of the following are assumptions of the production possibilities curve EXCEPT

A. resources are fully employed. B. there is a fixed level of technology. C. there is a fixed demand for the products. D. there is a fixed time period.

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The average agricultural tariff in the U.S. is about

A) 3 percent. B) 5 percent. C) 9 percent. D) 15 percent.

Economics