Figure 18.1Refer to Figure 18.1. Canada has a comparative advantage in the production of:
A. bicycles.
B. hang gliders.
C. both bicycles and hang gliders.
D. neither bicycles nor hang gliders.
Answer: A
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Which of the following is an example of a subsidized service?
A) Social Security payments to retirees B) Social Security payments to widows C) welfare payments to the unemployed D) Medicare reimbursements to hospitals
In analyzing recessions, Keynes' view was that
A. the economy may eventually recover by itself, but it takes too long. B. the government could stimulate aggregate purchases by reducing the budget deficit. C. the economy will never recover because wages and prices will never adjust downward. D. any cyclical unemployment will be short-lived, and thus there is no need for increased government spending.
Approximately how many U.S. workers received Trade Adjustment Assistance from 1994 to 2002 as a result of job losses due to NAFTA?
a. 525 million b. 52.5 million c. 5.25 million d. 0.525 million
Refer to the table below. Based on the data in the above table you can conclude that the:
The table below shows the utility schedule for a consumer of candy bars.
A. Marginal utility of the fourth unit is 96
B. Marginal utility of the third unit is 18
C. Total utility of 2 units is 16
D. Total utility of 6 units is 35