Countries that grow the fastest are those that adopt inward-oriented policies toward trade and foreign direct investment.

A core principle of the economic way of thinking assumes social phenomena

A) are less important than economic phenomena. B) are more important by far than economic phenomena. C) cannot be influenced by ethical considerations. D) emerge from individuals' choices.

Absolute price elasticities are calculated for four commodities, and the values are: 0.009; 1.0; 3.3; and 4.1. Which indicates the most price-responsive situation?

A) 0.009 B) 1.0 C) 3.3 D) 4.1