________ portion of actual world trade patterns results from different factor endowments between countries.
A. No
B. A significant
C. A small
D. A negative
Answer: B
You might also like to view...
In the example of coordination problems between Google and Motorola Mobility, one method to solve the problems was
A) to undertake a merger or acquisition. B) form a joint venture. C) for one firm to subcontract with the other. D) All of the above.
If your income goes up by 2% and, in response, the quantity demanded of good x rises by 3%, good x can be considered
a. An inferior good b. A normal good c. A public good d. A private good
A new technology is developed for producing solar panels that reduces production costs by 40%. Which of the following is true?
A. For the economy to remain efficient, product produced with this new technology must be equitably distributed to all consumers. B. This new technology will affect efficiency, and will change the equilibrium price and quantity for this industry. C. Firms will continue to operate efficiently as long as no firm adopts this new technology. D. If firms do not adopt this new technology, then the economy will remain in general equilibrium, because firms will not change their price and output decisions.
(Figure: The Demand Curve) Look again at the figure The Demand Curve. Using the midpoint method, the price elasticity of demand between $6 and $8 is approximately:
A) 4.5. B) 2.33. C) 0.23. D) 0.45.