Refer to Table 7-6. Which country has an absolute advantage in producing belts?
A) Estonia B) Morocco C) both countries D) neither country
A
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The goal of all regulation is the creation of perfectly competitive markets.
Answer the following statement true (T) or false (F)
One year before maturity, the price of a bond with a principal amount of $1,000 and a coupon rate of 5 percent paid annually rose to $1,019. The one-year interest rate must be:
A. 5 percent. B. 2 percent. C. 6 percent. D. 3 percent.
What is the difference between economic growth and economic development?
A. Economic growth examines qualitative changes in the processes by which potential output increases over time, whereas economic development examines how a country moves from one point on its production possibility curve to another point on the curve. B. Economic growth implies qualitative changes in productive processes whereas economic development requires quantitative change in virtually every aspect of life. C. Economic growth implies quantitative changes in productive processes whereas economic development requires widespread structural changes in the way people live. D. There is no difference between the two terms.
Which of the following is the best example of a network externality?
A. The Internet B. Parks C. Pollution D. Museums