If the United States has a trade deficit with China, then China must have
A) a trade surplus with countries other than the United States.
B) a trade surplus with the United States.
C) a trade deficit with countries other than the United States.
D) a trade deficit with the United States.
Answer: B
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Which of the following is an example of the Tragedy of the Commons?
a. The number of professional football teams increases to the point where the quality of the games decreases, as does television viewership. b. The number of satellites increases to the point where they begin running into each other. c. Disney World becomes so crowded that it institutes a lottery for admissions. d. A tiger breeding program becomes so successful that local zoos have to build additional exhibits so that visitors can view the cats.
An increase in unemployment insurance benefits will:
A. increase the demand for labor. B. decrease job search efforts of unemployed workers. C. increase job search efforts of unemployed workers. D. decrease the demand for labor.
A factor of production that has been produced for use in the production of other goods and services is:
A) labor. B) money. C) capital. D) natural resources.
A monopoly is a sole ____, and a monopsonist is a sole ____.
A. buyer in a product market; seller in a product market B. seller in a product market; seller in a labor market C. buyer in a product market; seller in a labor market D. seller in a product market; buyer in a labor market