Economic takeoff:
A. occurs when development becomes self-sustaining.
B. will eventually occur in all developing countries.
C. typically occurs in the absence of foreign investment.
D. has yet to occur in any developing country.
Answer: A
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Explain why a production quota is inefficient
What will be an ideal response?
Suppose the market demand curve is given by Qd = 80 - 10P, and the market supply curve is given by Qs = 10 + 15P. What is the equilibrium price and quantity?
A. P* = $2.80 and Q* = 54 B. P* = $2.80 and Q* = 52 C. P* = $2.60 and Q* = 54 D. P* = $3.00 and Q* = 55
If the index of intra-industry trade for an industry is zero, then:
a. exports and imports in that industry are equal. b. there are no exports in that industry. c. there are no imports in that industry. d. there is no trade in that industry.
Third parties can be unintentionally affected by the market activity of others
Indicate whether the statement is true or false