The statement that "since a farmer will make more money if he has a bumper crop means that all farmers would make more money if they all had bumper crops" would be an example of which of the following?
A. truth in an obvious form
B. the fallacy of composition
C. the fallacy that correlation is the same as causation
D. none of the options are correct
Answer: B
Economics
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Which of the following is likely to shift the production possibilities curve of a nation rightward?
A) An increase in the education and experience of the workforce B) An increase in the demand for the nation's exports C) An improvement in the terms of trade that the nation faces D) An increase in the price of raw materials used by the nation
Economics
What is export promotion? Give a few examples of countries that have tried it
What will be an ideal response?
Economics