According to Prebisch and other ISI theoreticians, countries should begin to shift their comparative advantage away from primary commodity production by first producing
A) industrial goods such as pumps and generators.
B) complex consumer goods such as autos and appliances.
C) simple consumer goods such as food products and textiles.
D) minerals and agricultural products.
C
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Which area in the above figure equals the consumer surplus under perfect price discrimination?
A) A + B + C + D + E + F + G + H B) A + B + C + D + E C) A + B D) There is no consumer surplus.
If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's variable costs equal to
a. $25 b. $0 c. $50 d. $100
The simplified spending multiplier is calculated as:
A. 1/(1 ? MPC). B. ?1/(1 ? MPC). C. ?MPC/(1 ? MPC). D. (1 ? MPC) × ?MPC.
Which of the following is true about the United States?
a. There has only been one recession in U.S. history. b. There have been recessions every couple of years throughout U.S. history. c. Recessions have never occurred in the United States. d. Recessions have occurred periodically in U.S. history. e. Recessions in the United States have generally been worse than in other countries.