Suppose that a country that has a high average wage level agrees to trade with a country that has a low average wage level. Which country can benefit?
a. only the one with a low level of output per person.
b. only the one with a high level of output per person.
c. both
d. neither
c
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As a curve approaches a maximum point, the slope will
A) be positive, then negative after the maximum point. B) be negative, then positive after the maximum point. C) remain constant on either side of the maximum point. D) increase before and after the maximum point.
All taxes impose an excess burden.
A. True B. False C. Uncertain
The BankInc case shows the potential of shifting from ________ tasks to ________ task assignments.
A. broad; specialized B. broad; functional C. functional; geographic D. specialized; broad
The general resistance to change, often stemming from loss aversion, is known as:
A. the present aim standard of rationality. B. the Weber-Fechner law. C. regression to the mean. D. status quo bias.