Most banks in the United States are owned by the government and operate as nonprofit institutions.
Answer the following statement true (T) or false (F)
False
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Less developed countries, compared to industrialized ones, are more likely to have higher tariff rates.
Indicate whether the statement is true or false.
Institutions and laws, such as patent protection, that foster innovations lead to economic growth because they
A) give businesses loans to buy new machinery. B) give confidence to consumers that the products they buy are safe. C) allow the government control of the innovations. D) give confidence to inventors that they will profit from their innovation.
Why is it impossible that all industries in a developing country qualify as infant industries?
(a) You cannot have a comparative advantage in everything. (b) You cannot have an absolute advantage in everything. (c) This would violate international law. (d) This would reduce the terms of trade.
According to the representative heuristic, you are more likely to assume that someone you just met is an architect if:
A. you also happened to meet two other architects earlier in the day. B. it has been a long time since you last met an architect. C. that person has many of the characteristics of an architect. D. you recently watched a television show about architects.