Tariffs reallocate income from
A) consumers to producers.
B) producers to consumers.
C) government to producers.
D) consumers to foreigners.
E) Both A and D.
A
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Newspaper machines and soda vending machines operate very differently. The newspaper machine is a mechanical box. You place your four quarters in the machine and you open the door and low and behold there is a stack of newspapers at your disposal
Most people take one and close the door for the next patron to purchase his own copy. But notice that soda vending machines don't operate the same way. They are also mechanical but when the four quarters are inserted and a selection is made only one can of soda is available for the consumer to purchase. Explain in terms of marginal utility why these two machines are designed so differently?
The principle of comparative advantage applies to
a. individuals only. b. business firms only. c. nations only. d. individuals, businesses, and nations.
Many people perceive erroneously that most macroeconomists spend a lot of time engaged in
A) forecasting. B) macroeconomic research. C) macroeconomic analysis. D) data development.
Most American firms are corporations
a. True b. False Indicate whether the statement is true or false