Earning a doctorate in environmental economics is an example of
A. economic income.
B. an investment in human capital.
C. a Pareto good.
D. a compensating differential.
Answer: B
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Protectionism is the use of ________ to protect domestic firms from foreign competition
A) cheap labor B) trade barriers C) dumping D) military force
Which of the following is not a property of a competitive equilibrium?
A) markets clear. B) consumers and firms optimize given market prices. C) the government budget constraint is satisfied. D) increasing total factor productivity.
In 2050 it is estimated that the world's most populous country will be:
a. Indonesia b. Japan c. India d. Brazil
When economist make normative statements they are?
a. speaking as scientists. b. speaking as policy advisers. c. making claims about how the world is. d. revealing that they are very liberal in their views of how the world works.