According to the Economic Freedom of the World measure, between 2000 and 2009 what happened to the economic freedom of the United States?
What will be an ideal response?
It declined and its rank fell from third to tenth during this period.
You might also like to view...
When the marginal cost of producing a bike is greater than the marginal benefit of the bike, for resource use to be allocatively efficient,
A) more bikes should be produced. B) fewer bikes should be produced. C) no more and no fewer bikes should be produced. D) it must be determined if the production of bikes can be increased. E) people must be educated to demand more bikes.
If the technology associated with producing fiber-optic cable continues to advance, over time the cost of producing fiber-optic cable will
A) decrease, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market. B) decrease, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry. C) increase, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market. D) increase, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry. E) decrease, firms that do not use the new technology will make an economic profit, and in the long run new firms will enter the market.
Refer to the figure above. What is the consumer surplus before Lithasia opens up to free trade?
A) $3 B) $12 C) $18 D) $22
Which of the following CANNOT be a source of comparative advantage?
A) Climate B) Resource stock available C) Education of workforce D) Domestic prices of goods and services