ISI policies were brought to an end primarily by
A) their inability to solve the crises of the 1980s.
B) authoritarian governments interested in total control over the economy.
C) populist politicians.
D) the growing perception that they were creating long-term economic inefficiencies.
E) Both A and D.
E
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Refer to Figure 29-2. Which of the events below cause the shifts in the supply and demand curves in the market for dollars against the British pound shown in the graph above?
A) Real income rises in the United States. B) Interest rates rise in England. C) Interest rates rise in the United States. D) Real income falls in England.
Which of the following best explains why productive workers can command high wages?
a. the bargaining power of labor unions. b. the presence of minimum wage legislation. c. wage and price controls that reflect the political power of labor organizations. d. competition among employers for productive workers.
The marginal tax rate for a lump-sum tax
a. is always positive. b. is always negative. c. is zero. d. can take on any value but must be greater than the average tax rate.
The concept of the production function implies that a firm using resources inefficiently will
A. obtain exactly the amount that the theoretical production function shows. B. obtain less output than the theoretical production function shows. C. obtain more output than the theoretical production function shows. D. not be subject to diminishing marginal product.