What is important when remembering what, how, and for whom to produce?
What will be an ideal response?
Opportunity cost, trade creates value, and property rights
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Which of the following has the largest impact on short-run movements in exchange rates?
A) growth rate of exports B) growth rate of imports C) investment opportunities D) changes in the trade deficit
Who made the campaign pledge, "Read my lips: no new taxes?"
A. Gerald Ford B. Second President Bush C. Ronald Reagan D. First President Bush
In the twentieth century what policies helped Taiwan, Singapore, and South Korea grow faster than more developed nations?
a. investment in natural resources b. low levels of saving and high levels of consumption c. investment in human resources and technology d. lax enforcement of property rights
Which of the following equations shows unit elastic demand?
a. ED < 1 b. ED > 1 c. ED x 1 d. ED = 1