Fiscal policy is the manipulation of government spending and taxes
a. True
b. False
Indicate whether the statement is true or false
True
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A key assumption of most economic analysis is that people act rationally, meaning they respond to incentives
Indicate whether the statement is true or false
Why is the market demand curve for public goods calculated as a vertical summation of individual demand curves?
What will be an ideal response?
In the long run, an increase in FDI in the manufacturing sector will:
a. increase marginal product of labor in the agriculture sector. b. increase marginal product of labor in the manufacturing sector. c. decrease marginal product of labor in the agriculture sector. d. not change the marginal product of labor in either sector
Refer to the information provided in Table 20.1 below to answer the question(s) that follow. Table 20.1
Refer to Table 20.1. In Guatemala, the opportunity cost of 1 bushel of oranges is
A. 1/2 bushel of bananas. B. 1 bushels of bananas. C. 2 bushels of bananas. D. 4 bushels of bananas.