Free trade is viewed as key to economic development because
A) it encourages a faster spread of technology.
B) it encourages a country's exports only.
C) it brings in expensive new technology.
D) none of the above is correct.
A
Economics
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The change in total revenue that results from employing one more unit of labor is called the
A) wage rate. B) value of marginal product of labor. C) average revenue. D) marginal product of labor.
Economics
Under a system of fixed exchange rates, what happens if a country's currency is undervalued?
A) The central bank loses official reserve assets. B) The central bank gains official reserve assets. C) The currency depreciates. D) The exchange rate falls.
Economics