In a "first-best" world
A. free trade benefits only the consumers of the importing country.
B. free trade benefits only the exporting nations.
C. each economy is self-sufficient enough not to indulge in free trade.
D. free trade is economically efficient.
Answer: D
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The graph shows the market for rental housing in Little Rock. The market for apartments is efficient when
A) the quantity of apartments demanded is 12,000 a month. B) the rent ceiling is set at $300 a month. C) there is no rent ceiling. D) the quantity of apartments supplied is 6,000 a month. E) the rent charged is less than $450.
For legal purposes, a corporation is treated as
A. an individual. B. a nonprofit organization. C. a partnership. D. a limited partner in a partnership.
Some economists who consider monopoly to be both inevitable and bad are inclined toward a policy of ___________ if regulation of the monopoly seems ineffectual
a. contestable market b. price controls c. countervailing power d. creative destruction e. nationalization
About what percent of the world's poorest people are female?
a. 30 b. 50 c. 70 d. 90