If perfectly competitive firms exit a market, the
A) market supply curve shifts leftward.
B) price of the good or service falls.
C) profits of the remaining firms decrease.
D) output of the industry increases.
A
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Critics of the World Bank's analysis of East Asian industrial policies argue that
A) even though growth was faster in the non-targeted industries than it was in the targeted ones, the policies were essential to overall economic growth. B) growth was faster in nearly every targeted industries than it was in the non-targeted ones. C) even though growth was the same in the targeted industries as it was in the non-targeted ones, they would have grown slower without the policies. D) growth was slower in the targeted industries; hence the policies did not work. E) measurements of economic growth are invalid and cannot be used to make comparisons between industries.
Which of the following did NOT contribute to "internal economies" in the industrialization process?
(a) Diminishing returns to scale (b) Central power sources (c) Managerial improvements (d) Transportation networks