Which of the following is most likely to increase the exports of a country?
a. The government gives subsidies to firms that export goods or services.
b. The government reduces the size of the budget surplus.
c. Political instability within the country increases modestly.
d. None of the above will increase exports.
c
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Which of the following is included as government purchases in gross domestic product (GDP)?
a. Social Security payments to elderly citizens b. Welfare benefits distributed to the poor c. Outright grants from government to recipients d. Payments to clerical workers hired by government e. Unemployment compensation benefits
When a person is risk-preferring, his indifference curves are
a. convex. b. concave. c. linear. d. upward sloping.
The market
A. Always provides the optimal mix of goods and services. B. On its own may not always provide the optimal mix of goods and services. C. Always provides a better mix of goods and services without government intervention than it does with government intervention. D. May not produce the optimal mix of output, which is known as government failure.
A price-discriminating monopolist will follow a system where:
A. Buyers with inelastic demand are charged higher prices than buyers with elastic demand B. Buyers with inelastic demand are charged lower prices than buyers with elastic demand C. All buyers are charged the same price regardless of their elasticity of demand D. The price of the product is held the same even if the demand changes