The value of a human life
A. can be estimated by potential future earnings.
B. can be subjected to cost-benefit analysis.
C. is an intangible that is hard to price.
D. all of these answer options are correct.
D. all of these answer options are correct.
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The quantity of employment is determined in the ________ market and that quantity, along with the ________, determines potential GDP
A) labor market; tax rate B) loanable funds; production function C) goods and services; labor market D) labor market; tax wedge E) labor market; production function
Suppose the United States subsidizes domestic chicken production and then sells surpluses on the world market at a price below the cost of production
In foreign countries, the argument that would made to restrict chicken trade with the United States would be the A) penalizes lax environmental standards argument. B) saves jobs argument. C) infant-industry argument. D) dumping argument. E) national security argument.
Suppose that GDP is equal to 1000, national saving is equal to 200, the current account deficit is equal to 100, and the government budget deficit is equal to 50. Private savings must equal
A) 150. B) 200. C) 250. D) 300.
Consider the production possibilities frontier in the figure shown. As more and more cars are produced the opportunity cost of producing more cars:
A. decreases.
B. stays the same.
C. increases.
D. decreases then increases.