Which of the following is true of technology?
a. Technological improvements are less important today than was true in the past.
b. Lack of access to modern technology is a major barrier restraining the growth of low-income countries.
c. Often, perverse institutions and policies in low-income countries undermine the potential gains from adoption of modern technology.
d. Countries with high investment rates will be unable to apply modern technology effectively.
C
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Assume that the yield on a security has two possible outcomes. There is a 60 percent chance it will yield 10 percent and a 40 percent chance it will yield 5 percent. The expected yield for this security is
A) 10.0 percent. B) 8.0 percent. C) 7.5 percent. D) 6.0 percent.
The infant industry argument is based on the idea that:
a. competitive pressure from established foreign firms would encourage the infant industry's prospects for future growth. b. failure to shelter these infant industries tends to lead to political instability. c. small firms must be protected. d. none of these.