Which of the following is NOT included in the working-age population?
A) discouraged workers
B) people waiting to be called back to a job after being laid off
C) retirees under the age of 55
D) people in prison
D
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The law of comparative advantage explains why
A. individuals choose specialized careers. B. firms specialize in the production of certain goods. C. nations develop strengths in certain industries. D. All of the responses are correct.
Refer to Table 19-13. Nominal GDP for Vicuna for 2013 equals
A) $4,920. B) $5,100. C) $5,300. D) $5,850.
The supply of loanable funds curve reflects
a. the inverse relationship between the market interest rate and the quantity of borrowed funds b. the inverse relationship between the market interest rate and the quantity of saving c. the direct relationship between the market interest rate and the quantity of borrowed funds d. the direct relationship between the market interest rate and the quantity of saving e. the direct relationship between the market interest rate and the quantity of present consumption
To achieve the optimal provision of public goods,
a. the market should be allowed to find its equilibrium without government interference b. the government must limit the provision of these goods c. the government must levy taxes on producers of these goods d. the government must either provide the goods at prices different from those established on the market, or subsidize the production of those who provide thegoods e. a tax must be imposed on consumers equal to the negative externality