If a nation's level of military expenditures is just below the optimal level _____
a. the nation's borders will be unprotected
b. the nation will not be protecting its interests abroad
c. the nation will not be projecting economic force
d. it is unclear what the marginal cost will be
d
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Based on the data in the table above, the efficient level of output equals
A) 550 units. B) 600 units. C) 650 units. D) 700 units.
Analysts that favor a fast transition to market economies argue that China's success with a gradual transition is a special case because
A) its trade flows were relatively large. B) so much of its labor force was in agriculture. C) heavy industry already had a strong foothold when the transition began. D) its coastal areas were already relatively well developed. E) its labor force was relatively well educated.
Which of the following has exchange rates permanently fixed between countries and a single monetary authority that conducts a single monetary policy for all member countries?
A. A currency board B. A monetary union C. A special economic zone D. A common market
If increasing the admission charge for National Parks increases the National Park Service's total revenue, then the demand for National Park visits is:
A. a perfectly horizontal line. B. inelastic. C. perfectly elastic. D. elastic.