Comparative advantage is always a(n)concept.
A) absolute
B) efficiency
C) relative
D) monetary
C) relative
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The region with the highest percentage of people who live on less than $1.90 a day is:
A. sub-Saharan Africa. B. South Asia. C. China. D. None of these is true.
When the tax rate is constant when a person's income rises, the tax is a:
a. regressive tax. b. poll tax. c. progressive tax. d. constant tax. e. proportional tax.
A budget surplus is
A. An excess of government spending over government revenues in a given time period. B. Used only in time of war. C. An excess of government revenues over government expenditures in a given time period. D. None of the choices are correct.
The U.S. dollar has depreciated relative to the Japanese yen if it takes
A) fewer yen to buy a dollar. B) more yen to buy a dollar. C) more dollars to buy a yen. D) fewer dollars to buy a yen. E) a and c