One reason the colonials complained about the Navigation Acts was
(a) the "shortage" of money; they believed the trade deficits of the colonies were bleeding them
of coins.
(b) the "surplus" of money that was causing inflation; they believed the trade deficits were flooding the colonies with coins.
(c) the Acts' not allowing foreign coins, which created a "shortage" of foreign coins relative to British coins.
(d) the Acts' requirement that only paper money would circulate in the colonies, without the backing of gold.
(a)
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A bundle of goods that costs $1 in the U.S. is worth 5 units in Country A's currency. If Country A's GDP in its own currency is 5,000,000 units, Country A's GDP in purchasing power parity-adjusted dollars is ________
A) $1,000,000 B) $50,000,000 C) $2,500,000 D) $3,000,000
An example of a positive externality is
A. Increased business profits at a hardware store that benefited from a tornado. B. Increased factory use of private sector robotics that came from government research. C. Increased health problems from air pollution. D. None of the choices are correct.
The utility we get from something:
A. is a measurement of outside perceptions and inner preferences. B. is a measurement of the benefit of consuming the good relative to the opportunity cost. C. is a measurement of our direct benefit of consuming the good. D. is a measurement of outside benefits and inner costs.
While smoking is on the decline in the United States, China is still puffing away madly. That's not because the government is eager to protect its citizens from the hazards of smoking It's because China is eager to protect its own tobacco industry which is a state monopoly. Why did China announce in 2009 that it won't allow foreign companies to build new cigarette factories or enter joint ventures?
A) because China is concerned about the negative effects of smoking B) because China wants to protect the economic profits its state monopoly makes C) because China wants to protect jobs D) because China regulates the tobacco industry