If the opportunity cost of producing a T-shirt is ________ in China than in the United States, China has ________ advantage in producing T-shirts
A) lower; a comparative
B) lower; an absolute
C) higher; a comparative
D) higher; an absolute
E) higher; no
A
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Which of the following is emphasized by supply-side economics?
a. The impact of budget deficits on interest rates and aggregate demand. b. The impact of government spending on aggregate demand, output, and employment. c. The impact of marginal tax rates on aggregate supply. d. The impact of budget deficits on the rate of taxation in the future.
The use of sharp, temporary price cuts as a form of _________________ would enable traditional US automakers to discourage new competition from smaller electric car manufacturers.
A. natural monopoly B. monopolistic competition C. predatory pricing D. oligopolistic competition
An example of an information asymmetry is when a worker knows more than his employer about his work effort
a. True b. False Indicate whether the statement is true or false
From 2002-2004, the earned income tax credit ________ the poverty rate among participants.
A. slightly increased B. decreased C. had little to no effect on D. more than doubled