A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium
A. it no longer needs any human capital
B. capital becomes more productive due to the “catch-up- effect”
C. none of these answers
D. it may be harder for it to grow quickly because of the diminishing returns to capital
A. 2.0
B. 1.999
C. 2.323
D. 2.222
A. China’s economic policies were directly influenced by the success of the Soviet economic System
B. The Tiananmen Square massacre resulted in Major economic reforms in China
C. The success of the Cultural Revolution resulted in the increased westernization of china
D. communist economic policies were not meeting the needs of the society
A. 40 units
B. 195 units
C. 1000 units
D. 200 units
A. helps explain why some nations use industrial policy to support potentially competitive new firms
B. cannot explain strategic competition between firms such as Boeing and Airbus
C. Is another name for Ricardo’s comparative advantage theory?
D. None of the above
A. benefits if each acts in his/her own interest
B. will increase their profits in a free market
C. should act to maximize economic growth
D. should act to promote the public interest