The quote, "If I have seen farther than others, it is because I have stood on the shoulders of giants" is attributed to ________
A) Albert Einstein
B) Paul Romer
C) Friedrich Nietszche
D) Sir Isaac Newton
D
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Some time ago the government of China required many highly skilled technicians and scientists to engage in unskilled agricultural labor in order to develop "proper social attitudes." This policy probably caused China to produce
A) at an inappropriate point along its production possibilities frontier. B) outside its production possibilities frontier with respect to food, but inside with respect to high-technology goods. C) inside its production possibilities frontier with respect to food, but outside with respect to high-technology goods. D) inside its production possibilities frontier.
Refer to Figure 4-11. What is the value of the portion of consumer surplus that has been transferred to producer surplus as a result of the price floor?
A) $1,200 B) $1,500 C) $1,800 D) $3,000
Domestic law and order, the infrastructure, and the climate of international trade are all aspects of a country's:
a. natural resources endowment. b. human resources investment. c. capital investment. d. political environment.
The difference between GNP and NNP is equal to:
a. the statistical discrepancy in calculation. b. the capital consumption allowance. c. the transfer payments. d. the value of net exports. e. the change in inventory.