In less-developed countries, the ________ effect leads to ________.
A. input-substitution; labor intensive production
B. input-substitution; mechanized production
C. output effect; labor intensive production
D. input effect; mechanized production
Answer: A
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Which of the following is a method used by government to cope with the situation in which production of a good creates an external benefit?
A) removing property rights B) subsidizing production C) marketable permits D) running a lottery E) imposing Coasian taxes
Acquisition of an existing solar cell production plant would be considered
A) a greenfield investment. B) foreign direct investment. C) anti-competitive under antitrust law. D) Both A and B.
If you're interested in measuring changes in people's standards of living, the most appropriate measure to use is the growth in the nation's
a. nominal GDP b. real GDP c. capital-output ratio d. capital stock e. employment
When the expenditure schedule is too high, the result is a(n)
a. unemployment surplus. b. inflationary gap. c. recessionary gap. d. budgetary gap.