Few countries have a higher GDP per capita than the weighted average of Canada, Mexico and U.S. GDP
Indicate whether the statement is true or false
TRUE
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Which of the following is a labor resource?
A. a computer B. a computer programmer C. a piece of software used by a firm D. silicon (sand) used to make computer chips
The WTO affects business practices across the globe
Indicate whether the statement is true or false
Assume that an American investor decides to buy one-year Swiss bonds that are denominated in Swiss francs and pay 2 percent annual interest. For this purpose, $10,000 is exchanged into Swiss francs at an exchange rate of $1 = 2Fr to buy the bonds. How many dollars will the investor have after one year if the exchange rate is $1 = 1.5Fr?
a. $10,000 b. $10,200 c. $15,300 d. $13,600 e. $7,650
Taxes cause deadweight losses because taxes
a. reduce the sum of producer and consumer surpluses by more than the amount of tax revenue. b. prevent buyers and sellers from realizing some of the gains from trade. c. cause marginal buyers and marginal sellers to leave the market, causing the quantity sold to fall. d. All of the above are correct.