People who focus on the "competitiveness" of the United States are
A. treating the United States as if it is a business firm.
B. also focusing on the importance of education.
C. correctly recognizing that trade is a zero-sum game.
D. focusing on the right thing if the United States is to stay a leading economic power.
Answer: A
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Socialism is an economic system characterized by:
a. private ownership of resources and market decision-making. b. government ownership of resources and centralized decision-making. c. cooperation, sharing, and little central government. d. a complex structure of rules and traditions that dictates decision-making.
A monopolist who attempts to bundle her product with one that is produced and sold in a competitive market is likely to make a smaller profit than one who does not bundle his product with such a good
Indicate whether the statement is true or false
In an open economy,
a. net capital outflow = imports. b. net capital outflow = net exports. c. net capital outflow = exports. d. None of the above is correct.
Refer to the above figure. Suppose the marginal benefit and the marginal cost curves of pollution abatement are normally shaped. Technological change that made it easier to produce in a "cleaner" fashion would cause
A. curve (1) to shift out, increasing the optimal amount of pollution abatement. B. curve (3) to shift up, raising the marginal benefits and costs and reducing the amount of pollution abatement. C. curve (4) to shift out, increasing the optimal amount of pollution abatement. D. curve (2) to shift out, increasing the optimal amount of pollution abatement.