One country will have a comparative advantage over another if its production possibilities
a. frontier is higher
b. curve has a different slope.
c. curve lies closer to the origin.
d. curve lies farther from the origin.
b
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Which transportation industry did government invest most heavily in before 1860?
(a) Turnpikes (b) Canals (c) River steamboats (d) Railroads
If households' income taxes are cut, how are households likely to respond?
A decrease in consumption expenditure A decrease in saving Push the economy into recession An increase in consumption expenditure
Exhibit 8-2 Demand and cost information for a monopoly Q P TC 0 40 10 1 30 15 2 20 25 3 10 40 4 0 60 The marginal revenue of the second unit of output in Exhibit 8-2 is:
A. 10. B. 20. C. 30. D. 40.
The current deficit minus net interest is called the
A. net current deficit. B. primary deficit. C. current surplus. D. primary current deficit.