The Cold War
A) hampered globalization because it created a political barrier between countries which reduced the likelihood that those countries would engage in trade with one another.
B) enhanced globalization because it helped to encourage countries to engage in trade with one another.
C) ended with the building of the Berlin Wall in the early 1960s.
D) a and c
A
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Consider a two-good production economy in which both goods are produced with fixed proportions production functions. Then, some efficient allocations will exhibit unemployment of some factor providing:
a. the firms use the inputs in different proportions. b. the firms exhibit diminishing returns to scale. c. the firms exhibit increasing returns to scale. d. production can never be efficient if there are unemployed inputs.
Which of the following is true of the consumption function? a. It becomes steeper as the income tax rate decreases
b. It becomes flatter as the income tax rate decreases. c. It shifts upward as the marginal propensity to save increases. d. It shifts downward as the expected future income increases.