Autarky refers to
A) a situation in which there is no trade.
B) the equilibrium a nation reaches after trade begins.
C) a situation in which nations trade goods and services.
D) the location on a consumption possibilities curve.
A
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Convenience stores with gas stations tend to sell an essentially identical variety of products and services. Yet this is generally considered to be a monopolistically competitive industry selling differentiated products
How can this be considered a differentiated product?
The World Bank tracked the performance of countries that had undergone varying degrees of globalization since the 1960s. Which of the following was a conclusion of the study?
a. The process of globalization widened the gap between rich countries and poor countries. b. The growth rates of globalizing countries were higher than the growth rates of nonglobalizers. c. The fraction of the very poor increased in newly globalized economies. d. Globalization increased income inequality. e. Unemployment increased in newly globalized countries.