1. at the heart of the technological dynamism of capitalism is

a. the relationship between capital and labor and competition among enterprises.

b. the relationship between buyers and sellers.

c. the relationship between governments and the firms they regulate.

d. the competition between emerging global power blocs.

2. This process of "repackaging" income streams enables assets tied to particular places to be bought and sold on international securities markets?

1. Speculation

2. Derivativization

3.Securitization

4. None of the above

3. "We moved to LA because it's so much cheaper to do business here. In Nebraska you have to do all the casting yourself. There aren't 10 different cinematographers to choose from. Try to find a decent entertainment lawyer in Omaha...good luck! Half of the equipment that you need to make a film you can't even rent. In LA, 'you need X you need Y?' chances are there's a firm or a freelancer that can you can hire in twenty minutes to do what you need done." This quote most closely describes which of the following?

a. Untraded interdependencies

b. Traded interdependencies

c. The "death of distance"

d. Tacit knowledge

e. None of the above

5. Hotelling showed was that under certain assumptions no matter where the two sellers originally located, they will strategically relocate until they are...

a. as far a part as possible.

b. None of these

c. able to serve the whole market at the lowest total transportation cost.

d. positioned beside each other in the middle of the linear market.

6. Over the past 50 years, while service sector's share of employment has and the manufacturing sector's share has and the wage share of national income has

a. Mirrored trends in FIRE / increased / declined

b. Increased / increased / declined

c. Decreased / increased / declined

d. Increased / decreased / declined

e. None of the above