Which one of the following industries is best classified as an oligopoly?
A) textbook publishers
B) retailing
C) wheat farms in the United States
D) fast food restaurants
A
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The principle of comparative advantage was developed by
A. Harry Truman. B. David Ricardo. C. John Maynard Keynes. D. Adam Smith.
Consider two countries, Alpha and Beta. In Alpha, real GDP per capita is $6,000. In Beta, real GDP per capita is $9,000
Based on the economic growth model, what would you predict about the growth rates in real GDP per capita across these two countries? A) The growth rate of real GDP per capita in Alpha and Beta will be the same. B) The growth rate of real GDP per capita will be higher in Alpha than it is in Beta. C) The growth rate of real GDP per capita will be lower in Alpha than it is in Beta. D) The economic growth model makes no predictions regarding differences in growth rates of real GDP per capita across the two countries.