A change in the following, will not result in a change in demand?
(a) Change in the price of a complement.
(b) Change in the price of a substitute.
(c) Change in the price of the good itself.
(d) Change in expected future prices.
Ans: (c) Change in the price of the good itself.
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The HO model rules out the classical model's basis for trade by assuming that ________ is (are) identical between countries
A) factor endowments B) factor intensities C) technology D) opportunity costs
In the Solow model, which of the following is an exogenous variable?
A) productivity B) the capital-labor ratio C) consumption per worker D) investment per worker
A country that currently does not trade with other countries could benefit by
a. restricting imports and promoting exports. b. promoting imports and restricting exports. c. restricting both imports and exports. d. not restricting trade.
Which of the following would cause an upward movement along the supply curve of hamburgers?
a. A fall in the price of substitutes like pizzas b. A fall in market demand for hamburgers c. An increase in the price of beef d. An increase in the market price of hamburgers