A government program that attempts to stimulate growth in the production of goods in which the country has a potential future comparative advantage is an example of a(n) ________ policy
A) primary-export-led
B) import-substitution development
C) outward-looking development
D) linkage-effect
C
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The marginal cost curve crosses
a. only the average variable cost curve at its bottom. b. both the average cost curve and the average variable cost curve at their bottoms. c. only the average cost curve at its bottom. d. the marginal product curve at its maximum.
Why would an organization as large as the National Football League (NFL) incur large legal expenses to try to prevent bars and restaurants from using their trademarked term "Super Bowl" in their advertising?
What will be an ideal response?
Because Federal Reserve Notes (paper currency) are legal tender
A) U.S. creditors must accept them in payment of debts. B) U.S. workers must accept them as payment for labor services. C) U.S. firms must accept them as payment for goods and services. D) All of he above are correct.
Suppose there are only two goods (Good A and Good B) and the average person buys 4 of Good A in a year and 3 of Good B. If, in the base year, the Price of Good A is $5 and the Price of Good B is $10, and in the next year the Price of Good A is $6 and the Price of Good B is $9, one problem with the CPI way of calculating inflation is
A. it understates the importance of Good B in the budget. B. it fails to recognize that people will substitute (to some degree) Good B for Good A and therefore understates the degree of inflation. C. it understates the importance of Good A in the budget. D. it fails to recognize that people will substitute (to some degree) Good B for Good A and therefore overstates the degree of inflation.