Which of the following looks at the demand side of the market to explain some of the observed international trade patterns?
a. The theory of consumer preferences
b. The factor abundance theory
c. The product life cycle theory
d. The Ricardian model
e. The human skills approach
a
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The growth rate of which of the following is not a component of the growth accounting equation?
A) the capital stock B) labor C) depreciation D) available technology
If the government provides a subsidy in one industry and raises the tax revenue by taxing another industry, would, other things equal, cause welfare costs in both industries
a. True b. False Indicate whether the statement is true or false
When firms negotiate price and market share among themselves in a way that is designed to limit competition, this practice is called
a. horizontal cartelization b. conspiracy to merge c. anticapitalism d. collusion e. illicit conglomeration
Previously a creditor nation, in the 1980s the U.S. became a debtor nation
a. True b. False Indicate whether the statement is true or false