Protecting infant industries from foreign competition may make sense, but only until the industry matures
a. True
b. False
Indicate whether the statement is true or false
True
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General Electric (GE) produces wind turbines that generate wind power. Over the past 10 years, the advances in technology used to produce wind turbines has resulted in
A) a movement up along the supply curve for wind-generated power. B) a rightward shift in the supply curve for wind-generated power. C) a decrease in the supply of wind-generated power. D) GE increasing the quantity supplied of wind turbines.
The ________ illustrates the relationship between the price level and the quantity of planned aggregate expenditure, holding constant all other factors that affect aggregate expenditure
A) savings line B) 45-degree line C) consumption function D) aggregate demand curve
When Glaxo-Wellcome introduced AZT, an AIDS drug, it was able to enjoy high profits because:
a. the drug was highly recommended by doctors. b. of the quick response of rivals in introducing substitute drugs. c. of barriers to entry provided by patents. d. of its competitive price in the pharmaceutical industry. e. it experienced constant returns to scale in the long run.
Those living in the poorest quartile of countries would like to emigrate because:
A. earnings are higher for the same skill level in richer countries. B. the opportunities to gain more education are higher in richer countries. C. the cost of living is lower in richer countries. D. All of these statements are true.