An economy has two workers, Jen and Rich. Every day they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. ________ has the comparative advantage in TVs and ________ has the comparative advantage in radios.
A. Rich; Rich
B. Jen; Jen
C. Jen; Rich
D. Rich; Jen
Answer: D
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Which of the following would not be included in the expenditure category called investment expenditures?
A) a purchase of shares of preferred stock B) spending on new houses C) a purchase of a copy machine by FedEx Office D) the cars held in inventory on a local Ford dealer's lot
All of the following are true of the high-growth Asian economies EXCEPT
A) macroeconomic stability has been a high priority of their economic policies. B) strong, credible commitments to sharing economic growth across all layers of society exist. C) exports have been promoted while at the same time being more open to imports than other developing countries. D) restrictions on imports of capital goods have helped to favor the development of domestic technology.
For a given expected value, the smaller the standard deviation of the expected value, the larger the risk
Indicate whether the statement is true or false
Transfer payments are
A. Payments to individuals for which no current goods or services are exchanged. B. Government expenditures on goods and services. C. Social Security taxes paid by employers. D. Government tax receipts.