"The Big Tradeoff" refers to the effect of redistribution on efficiency
Indicate whether the statement is true or false
TRUE
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There are only increases in total surplus when a country exports a good, since more units of the country’s output of that good are produced.
Indicate whether the statement is true or false.
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.2 shows how much of each good Jesse and April can paint in one hour. Which of the following is TRUE?
A. April has an absolute advantage in painting kites but not snowboards. B. April has an absolute advantage in painting snowboards but not kites. C. April has an absolute advantage in painting both goods. D. April does not have an absolute advantage in painting either good.
There is a negative relationship between two variables if:
A. they move in opposite directions. B. they move in the same direction. C. one variable changes and the other does not. D. neither variable moves.
If you get a flu shot and by taking it, you help prevent the spread of the disease, then the flu shot is:
A. a private good with external benefits. B. a private good with external costs. C. a public good with external benefits. D. a public good with external costs.