A friend of yours receives a government voucher for an apartment in a public housing project. This apartment represents
A) a government-sponsored good.
B) the free-rider problem.
C) a public good.
D) the drop-in-the-bucket problem.
Answer: A
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A shoe producing firm decides to acquire a firm that produces shoe laces. This implies that
a. The firm's aggregate demand will be less elastic than the individual demand b. The firm's aggregate demand will be more elastic than the individual demand c. The firm's aggregate demand will be of the same elasticity as the individual demand d. None of the above
Most MNEs generate a majority of their revenues in their home regions.
a. true b. false
Country A is relatively land-abundant, and wheat is relatively land-intensive. Given the assumptions of the Heckscher-Ohlin model, the opening of trade by this country will cause the domestic price of wheat to
A. fall. B. remain unaffected. C. rise. D. rise at first, but then fall back to its original level.
From 1996 to 2011, the rate of growth of output per worker in China has been approximately equal to
A) 5%. B) 10%. C) 15%. D) 18%. E) 23%.