A country opens up to trade and imports clothing. In the clothing market, surplus has been redistributed from
A) producers to consumers.
B) consumers to producers.
C) government to consumers.
D) producers to government.
A
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In the current account, the largest category of international transactions is
A) imports. B) international investment. C) statistical discrepancy. D) net interest. E) net transfers.
Robert got a new job and relocated to a different city. He initially decided to rent a small apartment close to his office
However, he decided to live in a much bigger and costlier apartment when he found out that his employer will pay him a house rent allowance. This is an example of ________. A) adverse selection B) moral hazard C) the prisoners' dilemma D) the free-rider problem
Since 1994, the average annual inflation rate in the U.S. has been greater than 8 percent.
Answer the following statement true (T) or false (F)
Suppose a poverty program has a basic benefit of $10,000, zero deductions, and a breakeven level of income of $25,000. The marginal tax rate is ________ percent.
A. 0.20 B. 0.08 C. 0.40 D. 2.50