Intraindustry trade is characterized by what two features of the industry and market?
A) Diseconomies of scale and homogeneous products
B) Non-tariff barriers and large-scale foreign investment
C) Quota auctions and low effective rates of protection
D) Economies of scale and differentiated products
D
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Which of the following statements is correct with respect to endogenous growth models?
a. Changes in government policy that affect savings and investment rates can increase levels of output in the long-run. b. Changes in government policy that affect savings and investment rates can increase the growth rate of output in the long-run. c. Long-run growth rates are not stationary. d. both a and b. e. all of the above.
One reason the AD curve is downward sloping is the __________ effect
A) wage rate B) productivity C) interest rate D) structural E) none of the above