Which of the following statements best describes the belief among economists about trade?
a. The common belief among economists is that it is better to embrace the gains from trade, and then deal with the costs and trade-offs with other policy tools than it is to cut off trade to avoid the costs and trade-offs.
b. The common belief among economists is that it is better to cut off trade to avoid the costs and trade-offs than it is to embrace the gains from trade and then deal with the costs and trade-offs with other policy tools.
c. The common belief among economists is that it is better to deal with the costs and trade-offs of trade with other policy tools before embracing the gains from trade, than it is to cut off trade to avoid the costs and trade-offs.
d. The common belief among economists is that it is better to cut off trade to avoid the costs and trade-offs, deal with the costs and trade-offs with other policy tools, and then embrace the gains from trade.
b. The common belief among economists is that it is better to cut off trade to avoid the costs and trade-offs than it is to embrace the gains from trade and then deal with the costs and trade-offs with other policy tools.
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Fast Stop, a gasoline and grocery quick mart, charges $3 for one hot dog and $5 for two hot dogs. This is an example of ________.
A) an all-or-nothing offer B) third-degree price discrimination C) second-degree price discrimination D) two-part pricing
Price discrimination can be practiced only if products can be resold
a. True b. False Indicate whether the statement is true or false
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
How is net national product (NNP) calculated?
a. Saving is subtracted from the total income of a nation's citizens. b. Saving is added to the total income of a nation's citizens c. Depreciation losses are subtracted from the total income of a nation's citizens. d. Depreciation losses are added to the total income of a nation's citizens.