The experience of sub-Saharan Africa, as compared to that of "Other Asia" (not including the HPAEs) supports the argument that
A) high rates of protection tend to harm economic growth.
B) the poorer is the country the easier it is for it to "catch up" economically.
C) low rates of protection tend to promote economic growth.
D) free trade always best stimulates a developing country's economy.
E) neither trade liberalization nor import substitution is a foolproof strategy for economic development.
E
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If the interest rate is 10 percent, the net present value of $600 to be received two years from now is
a. $495.87. b. $545.45. c. $600. d. $660.
If firms are producing at a profit-maximizing level of output where the price is equal to the average total cost:
A. economic profits must be zero. B. average total cost must be minimized. C. accounting profits must be positive. D. All of these are true.
On the contract curve the ______ for both consumers are the same
Fill in the blank(s) with the appropriate word(s).
If the demand function for a particular good is Q = 20 ? 8P, then the price elasticity of demand (in absolute value) at a price of $1 is:
A. 1/8. B. 2/3. C. 8. D. 2.