International trade can be correctly considered as an example of a zero-sum game
a. True
b. False
Indicate whether the statement is true or false
False
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A movement from point N to point L would represent
A. an increase in both consumer goods and capital goods.
B. a decrease in both consumer goods and capital goods.
C. an increase in consumer goods, but a decrease in capital goods.
D. an increase in capital goods, but a decrease in consumer goods.
In a market economy, uncertain levels of inflation
A) make prices less useful as signals for resource allocation. B) prompt firms to enter into fewer short-term contracts, and more long-term contracts, with suppliers. C) balance out income redistribution in the long run. D) are more beneficial to lenders than to borrowers, as lenders have a tendency to overestimate the expected inflation rate.
When the wage rate rises, the demand for leisure falls.
Answer the following statement true (T) or false (F)
Describe the market effects of a carbon tax.
What will be an ideal response?