Which of the following is a major argument of trade optimists?
(a) Industrial policy can increase productivity of developing country manufacturing efficiency.
(b) New synthetic substitutes are constantly being discovered and improved.
(c) Developing country efficiency would improve with trade liberalization.
(d) All of the above.
C
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According to the interest-rate-based monetary policy transmission mechanism, a decrease in the money supply will
A) lead to an increase in investment spending and a decrease in real GDP which is greater than the increase in investment spending. B) lead to a decrease in investment spending and an increase in real GDP that is equal to the decrease in investment spending. C) lead to a decrease in investment spending and a decrease in real GDP which is greater than the decrease in investment spending. D) lead to an increase in investment spending and a decrease in real GDP that is equal to the increase in investment spending.
Assuming all excess reserves are loaned out, currency holdings by the public are zero, and a reserve ratio of 25 percent, an initial deposit of $3,000 will lead to a total increase in deposits of
A) $750. B) $2,250. C) $12,000. D) $36,000.
Price discrimination is
A) always illegal in the United States. B) defined as charging the same price to all consumers. C) defined as charging different prices for different units. D) setting the price to minimize the quantity sold. E) Both answers A and C are correct.
A standardized good or service is one:
A. for which any two units of it have the same features and are interchangeable. B. for which any two units of it have similar features that could be considered close substitutes. C. for which any two units of it have different, unique features. D. that has very distinguishable characteristics, with each unit being economically unique.