A dual economy is characterized by:
a. rapid productivity growth in both the agricultural sector and the manufacturing sector.
b. uneven development trends in two economic sectors.
c. drastic differences in regional work ethics.
d. the nonexistence of the government and foreign trade sectors.
e. a manufacturing sector that does not depend on natural resource supplies for production.
b
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In contrast to the CAPM, the APT assumes that there can be several sources of ________ that cannot be eliminated through diversification
A) nonsystematic risk B) systematic risk C) credit risk D) arbitrary risk
The use of robots in agriculture is an example of
A) organizational changes leading to increased productivity. B) decreasing returns to scale. C) neutral technical change leading to increases in productivity. D) nonneutral technical progress.
U.S. dollars are an example of commodity money and hides used to make trades are an example of fiat money
a. True b. False Indicate whether the statement is true or false
Define a free market economy and name nation(s) that use them.
What will be an ideal response?