A country has national saving of $80 billion, government expenditures of $40 billion, domestic investment of $50 billion, and net capital outflow of $30 billion. What is its supply of loanable funds?
a. $30 billion
b. $40 billion
c. $50 billion
d. $80 billion
d
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Often politicians assert that a price, such as the price of gasoline or the rent for an apartment, is too high and that it is unfair for these prices to be so high
If these products are traded in competitive markets, what fairness rule are politicians using? Why?
Explain how a "leaky bucket" can be used to illustrate the utilitarian argument that governments should not attempt to completely equalize individual incomes
Which of the following is the least likely example of asymmetric information?
A. an insurance company and a client who just obtained a driver's license B. a seller of used cars and a prospective customer C. a seller of fresh fruit and a buyer D. a retailer of online music and a buyer
The United States has developed a comparative advantage in film production due to the film industry being long-established in southern California, and lower costs result from the size of the industry in the area. This source of comparative advantage is
referred to as A) the abundance of natural resources. B) superior process technology. C) external economies. D) best practices of unskilled labor.