If substantially more foreign money is invested in Ireland than Irish citizens have invested abroad, then one will likely expect Irish:
A. net foreign factor income to be positive.
B. net foreign factor income to be zero.
C. GNP to exceed Irish GDP.
D. GDP to exceed Irish GNP.
Answer: D
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Refer to the figure above. The relative price of T (in terms of S) is
A) 2. B) 1/2. C) 500. D) 1000.
The market structure of perfect competition exists when
A) there are a small number of interdependent firms that constitute the entire market. B) there is a single producer of a product. C) there are many producers of differentiated products. D) there are many producers of a homogeneous product.
The takings clause states that the government can seize private property only if ________ is provided
A) comparably-valued property B) just compensation C) fair market value D) the seller's asking price
The gap in ______________ standards between high-income and low-income countries raises concerns regarding increasing global trade and suggests that restrictions are needed to protect society.
a. environmental b. quality c. living d. employment