If India has an absolute advantage in rug production when compared to England, then:
a. India should export rugs to England.
b. England should export rugs to India.
c. international trade should not occur.
d. England uses fewer resources to produce rugs than India.
e. India uses fewer resources to produce rugs than England.
e
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If government increases spending and wants to maintain a balanced budget, it should
A) increase taxes by an amount equal to the increase in spending multiplied by the tax multiplier. B) decrease taxes by an equal amount. C) increase taxes by an equal amount. D) decrease taxes by an amount equal to the increase in spending multiplied by the tax multiplier.
Refer to the table above. Is the United States a debtor or a creditor nation in 2019?
A) a debtor nation B) neither a creditor nor debtor nation C) a creditor nation D) both a creditor nation and a debtor nation E) More information is needed to determine if the United States is a debtor or creditor nation.
Currently about what percentage of the civilian labor force is unionized in the United States?
A) 6 percent B) 12 percent C) 30 percent D) 70 percent
What is an opportunity cost?
What will be an ideal response?