A nation should specialize in the good for which it has an absolute advantage
Indicate whether the statement is true or false
F
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Why is growth in GDP different from growth in a nation's standard of living? Is it possible for a nation's GDP to grow while its standard of living falls?
What will be an ideal response?
The main reason why banks are the leading source of external finance for businesses is
A) the interest rates on bank loans are usually lower than interest rates on corporate bonds. B) banks have an information-cost advantage in reducing adverse selection problems. C) interest paid on bank loans is deductible against the corporate income tax, whereas interest paid on corporate bonds is not. D) government regulators encourage small businesses to obtain funding from banks.
Increased spending on which of the following items is most likely to increase the size of government during the years following 2012?
a. education b. Social Security and Medicare c. agricultural subsidies d. transportation (roads and airports)
Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. The most firms would be willing to pay per worker and hire three total workers is
A. $360. B. $600. C. $800. D. $1,000.