The reason why the Industrial Revolution originated in Britain can be partly attributed to its:
A) command economy. B) well-developed market system.
C) opposition to creative destruction. D) extractive institutions.
B
Economics
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If 60 pesos can be exchanged for $5 in the foreign exchange market, which of the following represents the nominal exchange rate between the two currencies?
A) 12 dollars for 1 peso B) 5 pesos for 1 dollar C) 1 dollar for 60 pesos D) 1 dollar for 12 pesos
Economics
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced. B. overallocation of resources. C. an impossible production point. D. technological advancement.
Economics