For which of the following products would you expect the index of intra-industry trade to be lowest?
a. golf clubs
b. automobiles
c. whiskey
d. natural gas
Answer: d. natural gas
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An economy can achieve faster economic growth without ______
A. markets and property rights B. people being willing to save and invest C. incentives to encourage the research for new technologies D. an increase in the population growth rate
For a normal good, an increase in consumer income will lead to I. a movement down the demand curve II. a rightward shift in the demand curve III. a reduction in supply
A) I only B) II only C) III only D) Both II and III
Isoquants are the ______ created by the ______.
A. contour lines; production function B. contour lines; efficient production frontier C. tangent lines; production function D. tangent lines; production possibilities curve
There are some economists who argue that low mortgage interest rates in the time period preceeding the financial crisis of 2007-2009 were a result of a ___________ in global savings. They argue that emerging countries began to save ___________ which helped to _____________ the supply of loanable funds in the United States
A) glut; less; decrease B) glut; more; increase C) decline; more; increase D) decline; less; decrease