Which of the following is not a country or region most likely to be among industrial market countries?
a. Western Europe
b. North American
c. Australia
d. South Asia
e. Japan
D
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According to Prebisch and other ISI theoreticians, countries should begin to shift their comparative advantage away from primary commodity production by first producing
A) industrial goods such as pumps and generators. B) complex consumer goods such as autos and appliances. C) advanced industrial goods such as chemical and electronics. D) simple consumer goods such as food products and textiles. E) minerals and agricultural products.
What role does population growth play in economic development?
Studies of professional sports teams suggest that, in sports, racial discrimination in previous decades was
a. rare. b. common and that owners of teams are largely to blame. c. common and that customers (fans) are largely to blame. d. None of the above is correct; there are no reliable studies of discrimination in sports due to the difficulties inherent in measuring athletes' productivity.
If Les can produce two pairs of pants per hour while Eva can produce one pair per hour, then it must be true that:
A. Les has a comparative advantage in producing pants. B. Les has an absolute advantage in producing pants. C. Les has both comparative and absolute advantage in producing pants. D. Eva has a comparative advantage in producing pants.