The concept of "economic pessimism" stems from
A) the theory and empirical fact which states that developing nations face declining export prices relative to increasing import prices.
B) the fact that economic growth in an era of globalization is difficult to attain.
C) the fact that smaller countries would not enjoy comparative advantage unless they are allowed to subsidize some of their industries.
D) the fact that it is impossible to achieve desired economic development without adopting full democratic principles.
A
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How does the increasing use of digital cameras affect the market for traditional camera film?
A) The quantity of traditional camera film demanded decreases. B) The demand curve for traditional camera film shifts to the left. C) The quantity of traditional camera film demanded increases. D) The demand curve for traditional camera film shifts to the right.
Which of the following exemplifies the most likely benefit of free trade?
a. All the citizens of Topland received payment for the shirts the nation traded to other nations. b. Gameland’s economy grew when its products gained popularity with foreign consumers. c. Manufacturing workers in Steelberg were laid off when production moved overseas. d. Citizens of Lumberville had ample sunshine after they traded their trees for computers.