Which of the following was not a factor in Japan’s post-World War II economic success?
A. A high rate of investment
B. A well-educated workforce
C. A high rate of natural resource discovery
D. A high rate of technological adoption
Answer: C
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In a supply-and-demand graph, producer surplus can be pictured as the
A) vertical intercept of the supply curve. B) area between the demand curve and the supply curve to the left of equilibrium output. C) area under the supply curve to the left of equilibrium output. D) area under the demand curve to the left of equilibrium output. E) area between the equilibrium price line and the supply curve to the left of equilibrium output.
If you want a say in the management of a corporation, you should buy
A) common stock. B) preferred stock. C) bonds. D) either bonds or preferred stock.
Using the above table, what is the maximum number of slices of pizza a rational consumer would buy?
A. 4 B. 3 C. 2 D. 1
Trade restrictions cause
A. higher prices. B. economic inefficiency. C. both higher prices and economic inefficiency. D. neither higher prices nor economic inefficiency.