According to the above table, if these two countries trade
A) Mexico should import computers and the United States import bicycles.
B) the United States should import computers and Mexico should import bicycles.
C) the United States should export bicycles and Mexico should export computers.
D) we cannot tell which country should export which good without knowing the amount of labor utilized in each country.
A
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More of a tax is borne by firms:
A. the more elastic is demand and the less elastic is supply. B. the less elastic is demand and the less elastic is supply. C. the more elastic is demand and the more elastic is supply. D. the less elastic is demand and the more elastic is supply.
In games, strategies are:
A. the outcomes players want to achieve. B. the same for everyone to achieve the same goal. C. the plans of action that players follow to achieve their goals. D. All of these statements are true.
The governor has proposed to clean up all the trash on the side of the highway. The project is estimated to cost the tax payers and additional $15,000. The city will benefit by having a clean highway which will entice tourists to stop along their routes. The project is estimated to bring in $12,000 of revenue from the highway being cleaned. Should the governor continue with the project?
A. No, the project will not bring in enough benefit to cover the costs. B. Yes, the project will have $12,000 of benefits to the city folks. C. Yes, the tax payers wanted the highway cleaned up. D. No, the benefit from the project will only be $3000.
A depression is:
A. a particularly severe and protracted recession. B. the low point of economic activity prior to a recovery. C. the high point of economic activity prior to a downturn. D. a particularly strong and protracted expansion.