All of the following would be potential problems if developing nations around the world emphasized export promotion EXCEPT
A) industrial nations may be unable to absorb the exports of many newly industrializing nations.
B) it would be much harder to emphasize exports under the WTO framework if the emphasis in exports requires some kind of subsidies.
C) export growth may not add to GDP if it crowds out growth in output of goods for domestic consumption.
D) current research has clearly established that there is no causal connection between exports and faster economic growth.
D
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Refer to the below graph. It shows the supply curve for a product before tax (S0) and after an excise tax is imposed (S1). The excise tax on the product is ultimately paid:
A. By buyers only
B. By sellers only
C. 75 percent by buyers and 25 percent by sellers
D. 25 percent by buyers and 75 percent by sellers
Natural monopolies are usually found in industries with
a. low fixed costs. b. large economies of scale. c. a normal profit. d. constant economies of scale.