The desirability of an export orientation for development rests on the claim that export industries
a. make better use of domestic resources than do import-substitute industries
b. attract foreign investors
c. use factors of production that are abundant domestically
d. earn more foreign exchange than would be saved by substituting for imports
e. all of the above
E
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The quantity supplied of a particular good is the amount of the good that
A) households are willing to consume at each particular price. B) firms will actually end up buying at a particular price during a given time period. C) firms are willing to sell at each price during a particular time period. D) households want firms to sell at each price during a particular time period.
Refer to the above table. The equilibrium price of tablets is
A) $500. B) $550. C) $650. D) $700.
Why does quantity demanded decrease when price increases?
a. People choose to reduce consumption of the item. b. People "drop out" of the market for the item. c. People find substitutes for the item. d. All of the above are correct.
Daryn earns a higher salary than his friend Nick because Daryn is willing to work on the loading dock, whereas Nick prefers to work in an air-conditioned office. The difference in salary could illustrate a compensating differential
a. True b. False Indicate whether the statement is true or false