Even though free trade creates gains, some people still object to free trade because of the way those gains are distributed
Indicate whether the statement is true or false
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Suppose that a nation has a GDP of 1.0 trillion dollars in 2000. If a country grows at an average rate of 3.0 % per year over a fifteen year period, then its compounded GDP at the end of the 15 year period should be:
A. 1.47 Tr. B. 2.00 Tr. C. 1.33 Tr. D. 1.56 Tr.
Why would a firm price discriminate? Because price discrimination allows the firm to
a. increase consumer surplus b. create brand multiplication c. select the best consumers who are willing to pay the highest price d. convert consumer surplus into economic profit e. shift its demand curve to the right
The Gini coefficient is
A. the ratio of the percentage of total income received by the top 20% of families to the percentage of total income received by the bottom 20% of families. B. a commonly used measure of the degree of inequity in a property distribution. C. the most common way of representing the income distribution graphically. D. a commonly used measure of the degree of inequality in an income distribution.
A suggested policy for industrially advanced countries to adopt to encourage economic growth in developing countries would be:
A. Cutting debt relief for DVCs B. Directing foreign aid to the more affluent DVCs C. Restricting immigration of low-skilled workers from DVCs D. Reducing tariffs and import quotas on labor-intensive products