Which of the following is an example of capital?
A) a gravel truck
B) a savings account
C) a share of General Motors stock
D) a lake
Ans: A) a gravel truck
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What is the effect of an increase in unemployment benefits on the unemployment rate?
What will be an ideal response?
A natural monopoly is any market in which competition and entry are restricted by the granting of a public franchise, government license, patent, or copyright
Indicate whether the statement is true or false
The World Trade Organization was created to
a. provide preferential treatment for developing-country trade b. incorporate environmental protection into trade agreements c. provide a set of rules under which regional trade arrangements would operate d. strengthen the international regime of rules for the conduct of foreign trade e. all of the above
The country Happy Land claims that it is producing everything its citizens consume. This situation is called
A. a closed economy. B. an open economy. C. autarky. D. protectionism.