Generally, if a nation produces more consumer goods than capital goods
A) more of all goods may be produced in the future.
B) less of all goods may be produced in the future.
C) about the same amount of capital goods may be produced in the future as are being produced today.
D) society will have to forego future consumption of capital goods.
B
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The figure above shows that as a result of the tariff, the quantity of T-shirts produced in the United States ________, and the quantity of T-shirts imported ________
A) increases by 15 million per year; decreases by 30 million per year B) increases by 15 million per year; increases by 15 million per year C) decreases by 15 million per year; decreases by 30 million per year D) decreases by 30 million per year; increases by 30 million per year E) does not change; decreases by 15 million per year
The larger the marginal propensity to import, the larger the government purchases multiplier
Indicate whether the statement is true or false
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
Considering the information in the table shown, if we assume Jack is a rational utility maximizer, then we can predict he will buy which bundle with his $10?
A. A
B. B
C. C
D. D
Buying a product in one market and selling it in another is called
A) competition. B) arbitrage. C) efficiency. D) comparative advantage.