Without specialization countries would have ________ goods.
A. the same amount of
B. more
C. fewer
D. new
Answer: C
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A bridge built by the government of Ritzland collapsed in the same year it was constructed. If the total cost of building the bridge was $4 million, which of the following will happen as a result of its collapse?
A) Ritzland's GDP will decrease. B) Ritzland's GDP will remain unchanged. C) Ritzland's trade surplus will increase. D) Ritzland's trade deficit will increase.
In the textbook model of endogenous growth, the production function is modeled as
A) Y = AK. B) Y = C + I + G + NX. C) Y = X. D) Y = S - I.
Which of the following statements is true?
A. Corner solutions always satisfy the tangency condition. B. Interior solutions may or may not satisfy the tangency condition. C. Interior solutions always satisfy the tangency condition. D. Whenever the consumer purchases good X but not good Y, then MRSXY ? PX/PY at the chosen bundle.
Which of the following statements is true?
A. The capital-gains tax rate was nearly 40 percent during 2003-2012 in the U.S. B. The capital-gains tax rate reached its all-time low during the 1970s in the U.S. C. The incomes of the top 1 percent were likely overstated in early 2000s in the U.S. D. The capital-gains tax rate reached its all-time low during 2003-2012 in the U.S.