List and describe two costs and two benefits of globalization as discussed in the textbook. Why does it tend to be more difficult to see the benefits of globalization as compared to the costs of globalization?
Some of the benefits of globalization include (1 ) benefits from increased international trade, (2 ) greater income per person, (3 ) lower prices for goods, (4 ) greater product variety, and (5 ) increased productivity and innovation. Some of the costs of globalization include (1 ) increased income inequality (although this topic is subject to debate), (2 ) offshoring, and (3 ) increased economic power for large corporations (also subject to debate). The benefits of globalization are largely dispersed over a large population, while the costs tend to be concentrated on relatively few.
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The defining characteristic of an HMO is:
A. that medical treatment is provided for a fixed annual fee. B. the emphasis on acute medical treatment. C. that medical treatment is provided on a fee-for-service basis. D. that patients have the freedom to see nonmember physicians.
The free-rider problem arises because pure public goods are nonexcludable
Indicate whether the statement is true or false
A person weighing uncertainty and risk is judging the ______ or likelihood of a good or bad outcome,
a. Probability b. Perception c. Psychological extent d. Unwillingness
In the United States, some state governments set tiered prices for electricity. These tiered prices lead to budget lines that are:
A. upward-sloping. B. kinked. C. horizontal at a specific level of electricity consumption. D. vertical at a specific level of electricity consumption.