Which of the following is not considered a unilateral transfer?
a. foreign aid from one government to another
b. income earned from foreign investments
c. personal gifts to friends in foreign countries
d. donations to foreign countries from non-government domestic charities
e. government transfers to foreign residents
B
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When wages decrease a. the substitution effect increases the quantity of labor supplied. b. the substitution effect increases the supply of labor
c. the income effect increases the quantity of labor supplied. d. the income effect increases the supply of labor.
Suppose a country has a real growth rate of 3%. Government spending is 75 billion units of currency and its tax revenues are 60 billion units of currency. The current national debt is 300 billion units of currency. At what inflation rate will its debt-to-income ratio remain unchanged?
Assume that hamburgers cost $2 and milkshakes cost $1. If MUH/PH of the sixth hamburger equals MUM/PM of the sixth milkshake and the marginal utility from the sixth milkshake is 2, what is the marginal utility of the sixth hamburger?
a. 1 b. 2 c. 4 d. 6
Specialization usually increases the output of a country; however effective specialization requires:
A. an effective low-cost means to exchange goods and services. B. a large stock of capital. C. that workers have very similar skills. D. everyone in the country producing the same thing.