One reason why there may be a bias against free trade is that
a. transportation costs are too high
b. absolute advantage may outweigh comparative advantage
c. those who benefit from trade have little incentive to lobby for it
d. the terms of trade may be too high
e. people prefer importing to exporting
C
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Fill in the blank: Your authors argue that focusing on the market as a ________ process helps to better explain the haggling and negotiation activities, which are at the core of our production and consumption plans in the real world
A) monopolized B) oligopolized C) perfectly competitive D) competitive
There are more poor whites than poor blacks in the U.S
Indicate whether the statement is true or false
Rhonda sells a house she has owned for 15 years and starts living in a rented apartment. To make it more marketable, she buys carpeting that she has professionally installed and buys wallpaper that her daughter hangs. Which items would be included in this year's gross domestic product (GDP)?
a. The sale price of the house b. The cost of transporting all her furnitures to the new apartment c. The opportunity cost of Rhonda's daughter's time d. The opportunity cost of Rhonda's time e. The purchase price for carpet and wallpaper, and the installation fee for the carpet
An increase in a country's budget deficit
a. increases net capital outflow, so the demand for its currency in the market for foreign-currency exchange shifts right. b. increases net capital outflow, so the supply of its currency in the market for foreign-currency exchange shifts right. c. decreases net capital outflow, so the demand for its currency in the market for foreign-currency exchange shifts left. d. decreases net capital outflow, so the supply of its currency in the market for foreign-currency exchange shifts left.