Because pollution taxes raise production costs, the ________ curve ________.
A. supply; shifts to the right
B. supply; shifts to the left
C. supply; does not change
D. demand; shifts to the right
Answer: B
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Which of the following business combinations likely exhibit economies of scope?
A) Banking services for individuals and banking services for other business B) Retail clothing stores and electronic (internet) clothing sales C) Hospitals that perform heart surgery and hospitals that perform cosmetic surgery D) all of the above
Which of the following situations resulted from the North American Free Trade Agreement (NAFTA)?
a. The cost of tortillas in Mexico decreased. b. Corn export to the U.S. from Mexico declined. c. Corn export to the U.S. from Mexico increased. d. The cost of tortillas in the U.S. increased.
Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. Which of the following statements is true? a. Alpha should export to Omega, but Omega should not export to Alpha
b. Since Alpha has an absolute advantage in both goods, no mutual gains from trade are possible. c. If Alpha specializes in growing apples and Omega specializes in growing oranges, they could both gain by specialization and trade. d. If Alpha specializes in growing oranges and Omega specializes in growing apples, they could both gain by specialization and trade.
Which of the statements below is primarily normative in nature?
A. The inequality of income that exists in the United States is partly caused by an unequal distribution of wealth. B. There is an unequal distribution of income in the United States. C. The distribution of income is more unequal in the United States than it is in Japan. D. The distribution of income in the United States should be more equal than it is.