Capitalism is an economies system ?

A. Based on government intervention in the means of production
B. That originated in the united states in the 19th century
C. Where private owners of capital make decisions based on profit
D. That dominated developing economies in the 19 century

Monopoly advantage is usually the result of greater opportunities such as ?

I- Access to more economic information than competitors
Ii- superior access to training and education
Iii- a lower discount of future earnings
Iv- larger firm size

Which of the following was a socialist country ?

I- Holland
Ii- soviet union
Iii- china
Iv- india

Which of the following is an example of a Schumpeterian innovation ?

A. An existing internet provider provides competition to two other providers in dayton ohlio
B. The production and marketing of the model t ford in the 19-teens
C. The invention of the stanley steamer
D. An american buying a stock in the philippines stock market

Joseph Schumpeter is the exceptional economist who links the entrepreneur to ?

A. Oligopolistic capitalism
B. Resource management
C. Innovation
D. Land and labor

The analysis considers the ability of domestic and foreign price of adjust to devaluation in the short run ?

A. pass through
B. absorption
C. adjustment mechanism
D. currency contract period

Empirical evidence regarding in the effects of currency depreciation on the balance of trade indicates that?

A. depreciation generally improves the trade balance
B. depreciation generally hurts the trade balance
C. no strong generalization is possible
D. depreciation has no effect on the trade balance

Which of the following is not an assumption of Schumpeter’s stationary state ?

A. Perfect competition
B. An economy below full employment
C. No savings or technical change
D. No entrepreneurial function is required

Technical advance involves ?

A. The development of pure science, invention innovation financing the innovation and the innovation’s acceptance
B. Introducing new products modifying production functions creating credit and making profits
C. Innovation investment credit creation and economies growth
D. Patent management resource gains mature innovation and speculative gains

If foreign manufacturing costs and profit margins in response to a depreciation in the U.S dollar the effect of these actions is to ?

A. shorten the amount of time in which the depreciation leads to smaller trade deficit
B. shorten the amount of time in which the depreciation leads to smaller trade surplus
C. lengthen the amount of time in which the depreciation leads to smaller trade deficit
D. lengthen the amount of time in which the depreciation leads to smaller trade surplus