The emphasis upon export surpluses in mercantilist theory
(a) is also called the "beggar-thy-neighbor policy" and a "favorable" balance of trade.
(b) was thought to be a good thing by business people because it meant that more money was circulating and more money meant higher prices and brisk trade.
(c) was thought to be a good thing by governments because it created brisk trade which yielded higher tax revenues than did slack trade.
(d) is characterized by all of the above.
(d)
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For a given downward-sloping demand curve, a decrease in supply will cause a(n):
a. increase in quantity demanded. b. decrease in quantity demanded. c. decrease in the equilibrium price. d. increase in demand. e. increase in the equilibrium quantity.
Pay-per-view broadcasts are ________
A) public goods B) private goods C) club goods D) common pool resources
The marginal cost of pollution abatement is represented by
A) an upward sloping curve. B) a downward sloping curve. C) a horizontal curve. D) a vertical curve.
The reason poor, young, unmarried women allow themselves to get pregnant is so they can get on welfare, according to conservatives like ____________.
Fill in the blank(s) with the appropriate word(s).