Some goods can be classified as either public goods or private goods depending on the circumstances
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 2-2. If Vidalia chooses to produce 80 dozen roses, how many orchids can it produce to maximize production?
A) 24 dozen orchids B) 48 dozen orchids C) 60 dozen orchids D) 74 dozen orchids
International trade does all the following except
a. allow a country to specialize in producing certain goods and services b. reduce world output c. allow a country to move to a higher consumption possibilities frontier d. allow a country's consumption possibilities frontier to lie outside its production possibilities frontier e. increase world output
_____ is the argument that with globalization, countries compete for international investment by offering low or no environmental regulations or labor standards
a. "Free rider problem" b. "Tragedy of the commons" c. "Race to the bottom" d. "Flag of convenience" e. "Enlightened self-interest"
In the median voter theory, the distribution of voters ______.
a. must be normal b. must be even c. may be skewed in some direction d. is unimportant to the candidate