The savings of individuals or corporations within a country is called:

A sudden increase in the market demand in a competitive industry leads to

a. Losses in the short-run and average profits in the long-run b. Above average profits in the short-run and average profits in the long-run c. New firms being attracted to the industry d. Both B&C

When a country follows an inward-oriented strategy, it tends to produce:

a. only tertiary goods. b. goods in which it has an absolute advantage. c. only labor-intensive goods. d. goods for which no export barriers exist. e. goods that replace foreign manufactured products.