If Robin has an absolute advantage in both gardening and baking when compared to Robert, then
a. Robin cannot benefit by trading with Robert
b. Robin can benefit by specializing in gardening if Robert specializes in baking
c. Robin can benefit by specializing in baking if Robert specializes in gardening
d. Robin and Robert may benefit from trading, but there is insufficient information to determine who should specialize in what
e. neither Robin nor Robert can benefit from trading with the other
D
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
In 1952, there were _____ school districts in the United States
a. fewer than 15,000 b. around 30,000 c. around 45,000 d. more than 60,000
Which of the following best describes how consumers and potato farmers in Spudville might be affected by imports of low-cost potatoes from Potato Town?
a. Prices fall in Spudville, but those losses are balanced by gains in Potato Town. b. Potato prices drop, which is helpful for consumers but a challenge for farmers. c. Potato farmers and consumers in Spudville both benefit from the cheap imports. d. Potato prices rise, but losses to consumers are offset by the benefits to farmers.
The investment function is represented by
A) an inverse relationship between the interest rate and the value of planned investment.
B) the direct relationship between the interest rate and the value of planned investment.
C) the indirect relationship between taxes and government spending.
D) the direct relationship between taxes and government spending.