Refer to Figure 18.3. After trade and specialization begin, the maximum amount of pogo sticks that Livonia can consume is
A) 120. B) 100. C) 80. D) 40.
B
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Whether a company produces fishing rods mostly by hand or using high-tech machinery is a question of
A) "When will the goods be produced?" B) "For whom will goods be produced?" C) "How will the goods be produced?" D) "Why will the goods be produced?" E) "Where will the goods be produced?"
A person practices poisonous snake charming and does not reveal this to her health insurance company before purchasing insurance. This is an example of
A) moral hazard. B) adverse selection. C) signaling. D) screening.
Tax cuts associated with supply-side economics often lead to increased
a. federal budget surpluses. b. federal budget deficits. c. foreign trade surpluses. d. government spending.
People will buy more of a normal good when their income decreases.
Answer the following statement true (T) or false (F)