The study by economists Cox and Alm found
a. the gap between rich and poor shrinks greatly if using after-tax income compared with pre-tax income.
b. the gap between rich and poor shrinks slightly if using after-tax income compared with pre-tax income.
c. the gap between rich and poor widens slightly if using after-tax income compared with pre-tax income.
d. the gap between rich and poor widens greatly if using after-tax income compared with pre-tax income.
b
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What is the dumping argument for protection from international trade?
A) Domestic firms must be protected until they gain a comparative advantage. B) Any firm necessary in wartime must be protected. C) Foreign producers selling below cost to drive domestic firms bankrupt must be stopped. D) Domestic jobs must be protected from competition from low-paid foreign workers. E) Foreigners selling products in the economy limit the nation's diversity and stability.
The values of real GDP and real GNP are almost the same in countries where a significant fraction of domestic production takes place in foreign-owned firms
Indicate whether the statement is true or false
It costs a firm $80 per unit to produce product A and $50 per unit to produce B individually. If the firm can produce both products together at $140 per unit of product A and B, this exhibits signs of
a. Economies of scale b. Economies of Scope c. Diseconomies of Scale d. Diseconomies of Scope
If there is an unemployment problem, what might policy makers increase to stimulate demand in an economy?
a. payroll taxes b. government spending c. interest rates d. austerity measures