In 2011, finland had a gdp of $195 billion and a per capita gdp of

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In 2011, Finland had a GDP of $195 billion and a per capita GDP of $36,000. Life expectancy was about 79 years. Which of these additional factors would most support the conclusion that Finland has a developed rather than an emerging economy?

[removed] Finland has a low population density.

[removed] Finland has a free-market economy.

[removed] Finland exports more than it imports.

[removed] Finland’s unemployment rate is 9.6 percent.

Graph titled Quantity Demanded versus Price, with x axis labeled in 10 unit increments from 0 to 70. Y axis is labeled with prices 0 to 60 dollars, in increments of 10. A blue line starts at 5, 50 and drops at an angle down to 60, 10.
Kelen wants to open a toy store. He buys the leftover stock of a store going out of business. He opens the boxes and counts the toys. There are 10 Nnedi action figures, 25 Ramez action figures, and 60 Slimeball action figures. Based on the graph, how should he set his prices?

[removed] Kelen should start with the same price for all action figures.

[removed] Nnedi action figures should be $10, Ramez $35, and Slimeball $50.

[removed] Nnedi action figures should be $42, Ramez $30, and Slimeball $10.

[removed] Nnedi action figures should be $60, Ramez $35, and Slimeball $1.

Public Domain

Opponents of free trade zones might use this map to argue that free trade

[removed] encourages conflict among market and command economies

[removed] leads to greater mobility among populations

[removed] organizes nations into regional exclusionary blocs

[removed] redraws traditional geographic boundaries

[removed] Capital

[removed] Entrepreneurship

[removed] Labor

[removed] Land

[removed] The shop would decrease the brake-check price to eliminate scarcity.

[removed] The shop would increase worker pay to make up for the opportunity cost of not doing brake checks.

[removed] The shop would shift production to oil changes and away from brake checks.

[removed] The shop would shift production to brake checks and away from oil changes.

Given the data in the chart, which two countries enjoy an absolute advantage in oil production over the United States?

[removed] Canada and Venezuela

[removed] Russia and Canada

[removed] Saudi Arabia and Venezuela

[removed] Russia and Saudi Arabia

Adam Smith wrote in The Wealth of Nations, Book II, Chapter 2, In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
Adam Smith’s quotation would most likely be used to defend which of the following policies?

[removed] Higher taxation of corporate profits

[removed] Less stringent regulation of commerce

[removed] More subsidies for farmers

[removed] Stricter restrictions against monopolies

Which of these businesses are in monopolistic competition?

[removed] Two clothing shops, one selling women’s clothing and the other selling kids’ clothing

[removed] Two agricultural producers, each selling a variety of kinds of citrus fruit

[removed] Two pet stores, one of which sells dog products and the other of which sells bird products

[removed] Two phone providers, each offering benefits to customers who switch to its service

A table with title, Hours to Produce One Liquid Unit. Greece produces olive oil in 35 worker hours and wine in 60 worker hours. France produces olive oil in 35 worker hours and wine in 45 worker hours. Italy produces olive oil in 30 worker hours and wine in 30 worker hours. There is a blank column for each country titled additional worker hours to produce wine instead of olive oil.
Given the data in the chart above, which of the following statements is true?

[removed] France has a comparative advantage in olive oil production.

[removed] Greece has an absolute advantage in wine and olive oil production.

[removed] Greece has a comparative advantage in wine production.

[removed] Italy has an absolute advantage in wine and olive oil production.

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