The study of development economics is to understand
A) the personality factors that lead people to become entrepreneurs.
B) why most of the patents on record have been given to men rather than to women.
C) why some countries are rich and others are poor.
D) why some products are successful in the market as soon as they are developed, whereas others do not catch on for years.
C
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If a nation does not have an absolute advantage in producing anything, it
a. has no comparative advantage either. b. will have a comparative advantage in the activity in which it is least inefficient. c. will try to get along without trade. d. will export raw materials and import finished products.
Complete the sentence-A put option on a futures contract gives its owner:
A. The right to sell a futures contract at the strike price. B. The right to sell a futures contract at the market price. C. The right to buy a futures contract at the strike price. D. The right to buy a futures contract at the market price.
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.
A firm will continue to operate in the long run as long as price exceeds long-run average variable cost.
Answer the following statement true (T) or false (F)