Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

11 Questions

0 Views

Quiz

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which factor tends to equalize prices in different countries?

Labor supply

Labor demand

Factor prices (correct)

Wage rates

What is the main purpose of the Import Substitution Strategy?

To analyze country's strengths

To expand exports

To produce goods previously imported (correct)

To limit imports and grow GDP

What is the main disadvantage of specializing in agricultural goods?

Decreased demand for commodities

Higher prices for basic commodities

Slow economic growth (correct)

Increased demand for luxury goods

What is Dutch Disease?

A shift in demand for labor to the left Signup and view all the answers

What are the characteristics special to a crop?

They are genetically robust Signup and view all the answers

What is the domestication process for a plant?

Selective breeding Signup and view all the answers

What crops were domesticated first?

Wheat and barley Signup and view all the answers

What are the main differences in sedentary and hunter/gatherer lifestyles?

Sedentary people rely on agriculture, while hunter/gatherers rely on hunting and gathering Signup and view all the answers

According to the Solow Model, why is capital unimportant in the long-run but possibly important in the short run?

Because in the long run, the optimal level of capital is already reached, so accumulating more capital is wasteful Signup and view all the answers

Why did the concept of the "financing gap" fail to guide developing economies properly?

Because it was not meant for developing countries to reach the desired investment-to-capital ratio Signup and view all the answers

Has the application of the Solow model to developing economies worked?

No, because developing countries lack the necessary technology for economic growth Signup and view all the answers