What makes a model compelling?
a. its predictions
b. its mathematical structure
c. its assumptions
d. its simplicity
Ans: a. its predictions
Economics
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Because of NAFTA, the U.S. shifts some of its imports from Europe to Mexico (a member of NAFTA). This is an example of
A) trade deflection. B) trade diversion. C) protectionism. D) rules of origin.
Economics
An efficient point of production is
A) a point on the production possibilities curve. B) a point inside the production possibilities curve. C) the point where scarcity no longer exists. D) the point where we are currently producing.
Economics