Currently, college graduates are earning about ____ more than high school grads over the course of their careers.
A. $100,000
B. $1,000,000
C. 25 percent
D. 60 percent
Answer: B
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An economy that does not trade with the rest of the world is known as a(n) ________ economy
A) command B) closed C) open D) communist
A consumer has $20 that he wants to spend on two goods: pens priced at $2 each, and pencils priced at $1 each. Which of the following correctly represents his budget constraint?
A) $20 = ($2/Quantity of pens) + ($1/Quantity of pencils) B) $20 = ($2 × Quantity of pens) + ($1 × Quantity of pencils) C) $20 = ($3/Quantity of pens + Quantity of pencils) D) $20 = $3 × (Quantity of pens - Quantity of pencils)
Predatory dumping is a common problem in the United States
Indicate whether the statement is true or false
Which of the following statements correctly characterizes the colonial commodity trade deficit?
a. The Middle colonies had the largest commodity trade deficit. b. The Southern colonies exported more to Great Britain & Ireland than they imported. c. The colonies experienced commodity trade deficits not only in their trade with England, but also in trade with Southern Europe and Africa. d. The colonies had a commodity trade deficit with Great Britain, but a commodity trade surplus once all trades were taken into account.