Which of the following is not an important objective of development?
a. increases in per capita income
b. the expansion of available choices
c. increases in individual and national self-esteem
d. all of the above are important objectives of development
D
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Two countries will choose to specialize and trade only if:
A. the terms of trade fall between their opportunity costs for producing the goods on their own. B. the opportunity costs are the same for the two nations. C. the opportunity costs are astronomically high for producing the goods on their own. D. one country possesses the absolute advantage in both goods, but the comparative advantage in only one good.
What do increases in consumer and business confidence lead to?
a. Higher consumption and lower investment demand b. Lower consumption and investment demand c. Higher consumption and investment demand d. Lower consumption and higher investment demand
Investments that are mistakenly made and generate losses
a. will occur when future revenues are known with certainty. b. indicate that the capital market is incapable of generating wealth. c. are normal costs of developing new projects and technologies in a world of uncertainty. d. will not occur when capital markets are operating efficiently.
An actress sets off a craze for wearing work boots among her fans. What factor is affecting demand?
a. consumer expectation b. consumer taste c. complements d. substitutes