Trade diversion results in
A) an increase in the total amount of trade in the world.
B) a decrease in the total amount of trade in the world.
C) no change in the total amount of trade in the world.
D) either an increase or decrease in the amount of trade in the world, depending on where trade takes place.
C
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If aggregate planned expenditure is greater than GDP, then
A) the consumption function will shift downward to restore the equilibrium. B) a recession will result. C) inventory investment is larger than planned. D) production is too high. E) inventory investment is smaller than planned.
Which of the following is an important factor in the success of agrarian land reform policies?
(a) the introduction of sharecropping. (b) the introduction of tenant farming. (c) farmer training programs. (d) the introduction of more capital intensive methods.