Internal and external economies positively contributed to U.S. industrialization
Indicate whether the statement is true or false
True
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Globalization is defined as the process of countries becoming ________ open to foreign trade and ________ open to foreign investment
A) more; more B) more; less C) less; less D) less; more
If the demand for cell phone service is inelastic, then
A) the percentage change in quantity demanded is greater than the percentage change in price (in absolute value). B) the percentage change in quantity demanded is less than the percentage change in price (in absolute value). C) the percentage change in quantity demanded is equal to the percentage change in price. D) the quantity demanded does not change in response to changes in price.
In allocating time between competing uses,
a. an individual will try to maximize marginal utility per hour spent on one activity b. time is considered a free good c. an individual will try to equate marginal utilities per hour spent on each activity d. time can be purchased for cash e. an individual will try to equate the marginal utilities derived from each activity
Germany has a comparative advantage in the production of which product?
