Ration coupons are tickets or coupons that give someone a right to purchase a certain amount of a product each time period such as a month.
Answer the following statement true (T) or false (F)
True
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It is possible for the government to remove individuals from a prisoner's dilemma setting and make them better off.
Answer the following statement true (T) or false (F)
Which of the following statements describes the situation for the United Kingdom at a real interest rate of 4 percent?
a. There is a capital inflow from the United States to the United Kingdom.
b. The quantity of loanable funds supplied by United Kingdom lenders is greater than the quantity demanded by United Kingdom borrowers.
c. The interest rate is at the equilibrium level for the United Kingdom.
d. U.K. borrowing is greater than U.K. lending, and the excess is exported to the United States as a capital outflow.
The difference between the highest price a consumer is willing to pay for a good and the price the consumer actually pays is called
A) consumer surplus. B) the income effect. C) producer surplus. D) the substitution effect.
The bulk of exports from non-industrial countries are
a. manufactured goods b. primary products c. agricultural goods d. natural resources e. raw sugar products