A country exports a good if
A) it has a high opportunity cost of production.
B) the world price of the good is above the country's no-trade equilibrium price.
C) the quantity demanded of the good in the country is greater than the quantity supplied at the world price.
D) it cannot import the good.
E) the world price of the good is below the country's no-trade equilibrium price.
B
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Saving is not a problem in the classical model because
A) savers and investors are the same people. B) interest rates are flexible, and savings were channeled into investment. C) the classical economists assume that saving was beneficial to people for retirement. D) saving would be spent by consumers eventually.
Which of the following is an example of capital income?
A) Wage paid to a worker B) Free lunch at work C) Interest earned on money lent out D) Free parking space in a mall
The figure above shows the market for annual influenza immunizations the United States. Area B is the
A) gain in efficiency from the illustrated subsidy. B) remaining deadweight loss when there is the illustrated subsidy. C) deadweight loss when there is not the illustrated subsidy. D) equilibrium with the illustrated subsidy. E) loss in efficiency from the illustrated subsidy.
If income were distributed equally our economic _________ would suffer.
Fill in the blank(s) with the appropriate word(s).