The benefits from international trade include
A. A rightward shift of the production possibilities curve.
B. A higher standard of living for every person.
C. A higher rate of population growth.
D. Greater efficiency in the use of the world's limited resources.
Answer: D
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If the capital stock increases, then the economy can produce ____ output with the ____ amount of labor.
A. same, same B. less, same C. more, same D. less, less
If the value of the multiplier is smaller, the economy
A. becomes less stable because automatic stabilizers have a larger impact. B. becomes more stable because automatic stabilizers have a larger impact. C. becomes more volatile because automatic stabilizers have a lesser impact. D. is subject to larger fluctuations because automatic stabilizers have no impact.
In a monopoly market structure, the supplier in the market always
A. produces too much. B. earns economic profit. C. sells faulty products. D. is the whole industry.
Attaining higher and higher levels of air cleanliness causes
A. additional costs to fall to lower and lower levels. B. larger and larger marginal benefits to society. C. additional costs to rise to increasingly high levels. D. larger and larger increases in per capita incomes.