Suppose two countries use different combinations of inputs, such as labor and capital, to produce the same product. This implies all of the following except that
A) one country is more efficient in the production of the good than the other.
B) the inputs are not equally productive in the two countries.
C) the prices of the inputs are not the same in the countries.
D) the two countries use different technologies to produce the product.
A
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In the figure above, U.S. consumers buy ________ airplanes per year at ________ million per airplane
A) 200; $150 B) 400; $100 C) 700; $150 D) 400; $150 E) 200; $100
If the MPS is 0.1 and the income tax rate is 0.33 the multiplier, k, is approximately
A) 2.5. B) 2.0. C) 10. D) 3.
Which of the following pairs of goods is the best example of substitute goods?
a. Borden's milk and Nabisco cookies b. Goodyear tires and Ford automobiles c. Exxon gasoline and Ford automobiles d. McDonald's Big Mac and Wendy's grilled chicken sandwich e. Dell computers and Microsoft software
The political problems associated with fixing the CPI are that
A. benefits to the poor would rise. B. Social Security benefits would fall. C. personal income taxes would fall. D. Social Security taxes would rise.