If, with one unit of labor, the U.S. can produce 20 units of computer software and 10 units of computer hardware, and China can produce 6 units of software and 6 units of hardware, then trade can make
A. both better off.
B. the U.S. better off but not China.
C. neither better off.
D. China better off but not the U.S.
Answer: A
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According to the textbook, the Manning study suggests that a large share of the increase in medical expenditures since World War II has been caused by:
A. the increase in first-dollar medical insurance. B. the increase in high-deductible policies. C. advances in medical technology. D. the annual stipend given to the poor to defray medical expenses.
Refer to the figure above. Social surplus will be maximized if the quantity supplied of Good X is ________
A) Q1 B) Q2 C) greater than Q1 D) greater than Q2
If Chris pays $500 for a bond that will return $750 in one year, what is the interest rate?
a. 50 percent b. 10 percent c. 25 percent d. 250 percent e. 33 percent
The tax incidence depends on whether the tax is levied on buyers or sellers
a. True b. False Indicate whether the statement is true or false