A common argument in favor of restricting trade
a. concerns the strategy of bargaining.
b. is that efforts should be made to get new industries started.
c. emphasizes the belief that all countries should play by the same rules.
d. All of the above are correct.
d
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The gross domestic product of Neonland is 450,000 neons. It has a total population of 1,500. 30% of the total population in Neonland comprises of retired workers, 50% of the population is employed, and the remaining are unemployed children
i) Calculate the income per capita of Neonland. ii) What is the income per worker of Neonland? iii) Is there a difference between the two measures? If yes, explain the reason behind this difference.
If a supply curve shifts rightward along a downward sloping demand curve
a. the quantity supplied will increase b. the quantity supplied will decrease c. it makes no sense to talk about a change in quantity supplied d. the quantity demanded will decrease e. the price will increase