Remittances sent from developed countries are estimated at approximately ________ per year.
A. $2 million
B. $50 million
C. $100 billion
D. $5 trillion
Answer: C
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What is the largest problem associated with using a tax to correct for an externality? Explain
What will be an ideal response?
In the case of a positive externality, the entire demand curve lies
A. above the entire marginal social benefit curve. B. below the entire marginal social benefit curve. C. above the entire supply curve. D. below the entire supply curve. E. b and c
If Abigail can produce 4 portable power banks or 3 smartphones in a day, while Jacob can produce 1 portable power bank or 2 smart phones, then it is correct to state that
A) Abigail has a comparative advantage in producing smartphones. B) Abigail has an absolute advantage in producing portable power banks but not smartphones. C) Jacob has a comparative advantage in smartphones. D) Jacob has an absolute advantage in smartphones.
Quantity demanded will equal quantity supplied if a ________ is set ________ the equilibrium price.
A. price ceiling; at or below B. price ceiling; above C. price ceiling; below D. price floor; above