How has the composition of trade flows changed from the early twentieth century to today? Compared to the past, is anything about trade today new?
What will be an ideal response?
Prior to World War I, most trade consisted of agricultural commodities and raw materials, while today trade is primarily manufactured consumer goods and capital goods. Given recent advances in telecommunications, services now can be outsourced and service industries face growing international competition.
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Steady state growth will occur according to Robert Solow when
A) y = k. B) y = n. C) kn = y. D) k = n.
In a representative democracy, some responsibility for government extends to all citizens
a. True b. False Indicate whether the statement is true or false
When unplanned inventory changes are positive, GDP is current at its equilibrium level
a. True b. False
Which of the following is exempt from antitrust laws?
A) professional basketball B) suppliers of military equipment C) telephone companies D) automobile companies