Which of the following is likely to be a benefit of foreign investment in a developing country?
a. Domestic firms are subjected to foreign competition
b. Labor-intensive industries grow quickly
c. New technology is adapted
d. The natural rate of unemployment falls to zero
e. The rate of inflation declines
c
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Of the following market structures, which has the fewest number of firms competing against each other?
A) monopolistic competition B) oligopoly C) perfect competition D) Both answers A and C are correct.
________ mergers can lead to increased market power and, as a result, ________ the total surplus in the market.
A) Horizontal; increase B) Vertical; increase C) Vertical; decrease D) Horizontal; decrease
Nonrivalry in consumption and the inability to exclude nonpaying consumers from using the goods are characteristics of what kinds of goods?
a. durable b. nondurable c. public d. private
While the scientific method is applicable to studying natural sciences, it is not applicable to studying a nation's economy
a. True b. False Indicate whether the statement is true or false