A significant portion of actual world trade patterns results from
A. different sizes of the countries.
B. different factor endowments between countries.
C. the industrial policies of governments.
D. the different tastes and preferences of people in different countries.
Answer: B
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The working-age population of people over the age of 16 can be divided into two groups, people
A) in the labor force and people looking for work. B) with a job and people actively seeking a job. C) looking for work and those in the U.S. Armed Forces. D) in the labor force and people with a job. E) in the labor force and people who are not in the labor force.
Tom Searchinger, a senior attorney at the Environmental Defense Fund, observed that generous farm subsidies have encouraged farmers to produce more corn and more wheat. How does this affect the market for fertilizer?
A) The supply of fertilizer increases. B) The demand for fertilizer increases. C) The supply of fertilizer decreases. D) The demand for fertilizer decreases.
The top 5 percent of U.S. annual family income in 2011 was $205,200 or more
a. True b. False Indicate whether the statement is true or false
Generally speaking, which of the following groups would tend to gain real income from the wealth effects of inflation?
A. People who have savings accounts at fixed rates of interest. B. People with fixed income. C. People who own assets that are appreciating faster than the inflation rate. D. People who hold all of their assets in the form of cash.