A country with a high GDP per capita can be classified as an industrially advanced country (IAC) regardless of its industrial development

Bank capital can best be described as:

A) funds contributed by shareholder purchasers of a bank's stock plus the accumulated retaining earnings B) the accumulated amount of reserves held by a bank C) the location of most of the major banks of a country D) another name for bank assets

When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,

a. producer surplus increases and total surplus increases in the market for that good. b. producer surplus increases and total surplus decreases in the market for that good. c. producer surplus decreases and total surplus increases in the market for that good. d. producer surplus decreases and total surplus decreases in the market for that good.