Outcomes are likely to be Pareto superior if they were _____
a. approved of by a unanimous vote
b. enacted by a bureaucrat
c. decreed by a judge
d. enacted by bipartisan legislation
a
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The net national debt is smaller than the gross national debt because
a. some debt is held by foreigners. b. some debt is held by U.S. citizens. c. some debt is held by government agencies. d. the government does not have to pay all of the debt.
Which part of this definition for GDP is incorrect? GDP measures the:
a. Wholesale value of, b. All final goods and services, c. Produced for the market, d. By domestically owned or foreign-owned resources, e. within a nation's geographic borders.
Your company has recently requested that you travel to Dhaka, Bangladesh, to work on negotiations for a new factory to be located in one of the port cities. Your travel agent provides a list of several hundred local hotels and a Sheraton. In this case, the Sheraton brand-name is likely to be used as a signal of
a. perceived differences that are not likely to exist among your various options. b. quality when quality cannot be easily judged. c. inefficiency in markets characterized by recognizable brand names. d. the quality of general lodging accommodations in Dhaka.
Suppose the real exchange rate is such that the market for foreign-currency exchange has a surplus. This surplus will lead to
a. an appreciation of the dollar, an increase in U.S. net exports, and so an increase in the quantity of dollars demanded in the foreign exchange market. b. an appreciation of the dollar, a decrease in U.S. net exports, and so a decrease in the quantity of dollars demanded in the foreign exchange market. c. a depreciation of the dollar, an increase in U.S. net exports, and so an increase in the quantity of dollars demanded in the foreign exchange market. d. a depreciation of the dollar, a decrease in U.S. net exports, and so a decrease in the quantity of dollars demanded in the foreign exchange market.