Taxation and government spending are examples of fiscal policy tools used to stabilize an economy
Indicate whether the statement is true or false
TRUE
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The outflow of highly-educated workers from low-income countries to high-income countries is called:
A. Backflow B. Self-selection C. Skill transferability D. Brain drain
When determining the production possibilities curve
A) the trade-off between the goods in the economy remains constant. B) the amount of productive resources remains constant. C) the prices of the goods are used. D) the prices of resources are used.
Which calculation gives the firm’s profit margin?
a. Average profit = price × average cost b. Average profit = price ÷ average cost c. Average profit = price + average cost d. Average profit = price – average cost
In presenting the idea of a demand curve, economists presume the most important variable in determining the quantity demanded is
A. the price of the product itself. B. the prices of related goods. C. consumer income. D. consumer tastes.