The idea of efficiency is used to address which of the following questions?
A. What are the wants and constraints of those involved?
B. What are the trade-offs?
C. How will others respond?
D. Why isn't everyone already doing it?
D. Why isn't everyone already doing it?
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The African agrarian system is characterized by
(a) absentee landlords. (b) a dual agrarian system known as latifundio-minifundio. (c) land fragmentation. (d) shifting cultivation.
Elasticities are often _______ in the short run than in the long run.
a. higher b. lower c. equal d. congruent
Among the 23 long-standing members of the Organization for Economic Cooperation and Development (OECD), the highest rates of economic growth during recent decades have been achieved by
a. Western European countries. b. the countries with the smallest government expenditures as a share of GDP. c. the countries with the largest government expenditures as a share of GDP. d. the countries with the most rapid growth of government expenditures as a share of GDP.
Which of the following trade rounds was started in 2001 but has never been settled even in 2012 and whose goals were aimed at lowering tariffs on a wide range of industrial and agricultural products?
a. Uruguay b. Switzerland c. Doha d. All rounds have been completed.