Rent seeking refers to
a. what landlords do
b. looking for an apartment
c. capturing the economic results of government-created scarcity
d. all profit-making activity
e. all of the above
Question 2 - A proposed steel mill will be powered by coal. The country has one company that mines a limited amount of inferior coal, which may not be suitable. In evaluating the potential profit of this mill, how should we determine the price of coal?
What will be an ideal response?
Question 3 - If net capital flows were -28 billion and domestic investment was 17 billion, then the amount of domestic savings was
A) -11 billion.
B) 45 billion.
C) 11 billion.
D) -9 billion.
Question 4 - The Cambridge equation equates money demand as
A) a fraction of nominal GDP.
B) a percentage of real GDP.
C) a fraction of money supply.
D) a ratio of spot exchange rates.
Question 5 - At present, approximately how many years would it take for the world's population to double?
(a) 35.
(b) 58.
(c) 96.
(d) 211.
Question 6 - What are the key ingredients of Taiwan's successful entry into world markets? What lessons can other developing countries draw from Taiwan's experience with global markets?
What will be an ideal response?
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