The government regulates food additives
A. To keep food producers from dominating their markets.
B. To prevent externalities.
C. To restrain the market power of food producers.
D. To assess their safety.
Answer: D
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The balance of trade is sometimes described as the balance of ______________.
a. shipments b. payments c. cash d. exchange
Tax loopholes are equally available to all taxpayers
a. True b. False Indicate whether the statement is true or false
When Hurricane Katrina hit the Gulf Coast of the United States in 2005 it destroyed 5,000,000 acres of timber. Given that lumber is timber that has been sawed or split into planks and boards, explain in terms of supply and/or demand how the hurricane
impacted each of the following markets (be sure to note the expected resulting impact on equilibrium price and quantity): a. Domestic lumber b. Imported lumber c. New home construction
When the production process extends over more than one year, the value of the final product is:
A. included in GDP for the year in which production began. B. allocated equally to GDP in each year. C. included in GDP for the year in which production was completed. D. allocated to GDP in each year according to the value added in that year.