Special interest group A receives a 1/10,000th slice of the economic pie (Real GDP). It is seeking a transfer of $1,000. For group A to be indifferent between a transfer policy and an economic growth policy, economic growth must be ________________ times larger than the _________________
A) 1,000; transfer
B) 10,000; transfer
C) 100; transfer
D) 10,000; transfer minus $1,000
E) 1,000; transfer; minus $10,000
B
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Under a gold standard, a balance of payments deficit automatically
A. raised interest rates. B. decreased exports. C. increased domestic prices. D. increased imports.
Which of the following is TRUE?
A) For an inferior good, when income increases, the demand curve shifts leftward. B) The demand curve for a good shifts leftward when the price of a substitute rises. C) If consumers expect the price of a good will rise in the future, the demand curve shifts leftward. D) An increase in population shifts the demand curve for most goods leftward.
In an open economy, how many bikes will this country export?
A. 80,000 B. 60,000 C. 50,000 D. 20,000
The World Trade Organization
A. was set up to decrease tariffs among nations. B. was set up to increase tariffs among nations. C. was set up to negotiate exchange rates between countries. D. handles trade disputes among its member nations.