Answered: . Free international trade stimulates…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. Free international trade stimulates economic growth by _____________________________________________.

Group of answer choices

a. extracting all the available gains from specialization and trade

b. funding basic education and by ensuring high standards in skills such as language, mathematics, and science

c. funding basic research and allocating public funds to their highest-valued use

d. incentivizing saving and investment for capital accumulation as well as tax incentives to promote saving

2. What did psychologist Pam A. Mueller (Princeton University) and marketing professor Daniel M. Oppenheimer (UCLA) find when they studied about 67 Princeton University students taking notes by hand and on laptops while watching TED talks?

Group of answer choices

a. They did not find any difference between the groups taking notes and their performance on tests.

b. They found those using laptops were more inclined to take verbatim notes and performed worse on tests.

c. They found those longhand notes were more inclined to take verbatim notes and performed worse on tests.

d. None of the above are correct.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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