From these figures we can conclude that
A. China has a comparative advantage in rice.
B. China has a comparative advantage in radios.
C. the United States has a comparative advantage in radios.
D. neither has a comparative advantage in these two goods.
B. China has a comparative advantage in radios.
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Which of the following expenditures associated with the production of a new high-performance SUV will be directly included in GDP?
A) the sale of bonds to finance the construction of the assembly plant B) the purchase of used welding robots to assemble to vehicles C) the purchase of new tires to be installed on the new vehicles D) the purchase of new machine tools to manufacture the engines
Refer to Figure 9-1. Based on the graph of the labor market above, if a minimum wage is set at $5 per hour, which of the following will occur?
A) The level of unemployment will rise, but the percentage of the labor force unemployed will not change. B) The unemployment rate will fall. C) The unemployment rate will rise. D) None of the above will occur.
Refer to Scenario 10.9. At the profit maximizing level of output, what is the level of producer surplus?
A) 0 B) 1,800 C) 5,400 D) 7,200 E) 9,600
Redistribution programs that reduce poverty and income inequality
a. always increase GDP. b. always decrease GDP. c. usually increase GDP. d. usually decrease GDP.