One way developing countries have been able to break into the world export market is by
A. joining international export cartels and creating monopoly in the export market.
B. using Import-Substituting Industrialization (ISI) to force exports by limiting imports.
C. becoming locations for low-cost assembly of more technologically advanced products.
D. carrying out extensive research and development giving impetus to high technological progress.
Answer: C
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A production possibilities curve is plotted for a nation producing cotton and jute. Which of the following will cause a parallel rightward shift of the production possibilities curve?
A) An invention of a new fertilizer that increases cotton production by ten percent, without any effect on jute production B) An invention of a new fertilizer that increases jute production by five percent, without any effect on cotton production C) An invention of a new fertilizer that increases production of both cotton and jute by ten percent D) A two-times increase in the price of all cotton products and a three-times increase in the price of all jute products
The branch of economics that focuses on economywide variables like inflation and unemployment is called:
a. macroeconomics. b. microeconomics. c. free-market economics. d. aggregate economics.