Which resource is the main contributor to economic growth in the United States, Latin America, and South Asia?
A. growth in physical capital
B. growth in human capital
C. growth in natural resources
D. growth in labor productivity
Answer: D
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Voluntary exchange
A. is usually beneficial to one party, but not the other. B. is always beneficial to both parties. C. is occasionally beneficial to both parties. D. occurs only between nations, not between individuals.
The excess of total credits over total debits in the current and private capital accounts is called the
A) BOP deficit. B) BOP surplus. C) official settlements account surplus. D) official settlements account deficit.
Refer to Scenario 10.2. How much profit does the monopolist earn?
A) $4512.50 B) $4987.50 C) $475.00 D) $5.00
Oligopolists have a mutual interest in coordinating production decisions in order to maximize joint
A. Costs. B. Profits. C. Market share. D. Revenues.