Government always makes individuals better off when it removes them from a prisoner's dilemma setting
Indicate whether the statement is true or false
False
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Refer to Table 2-30. This table shows the number of labor hours required to produce a wristwatch and a bushel of rice in Japan and Thailand
a. Which country has an absolute advantage in the production of wristwatches? b. Which country has an absolute advantage in the production of rice? c. What is Japan's opportunity cost of producing one wristwatch? d. What is Thailand's opportunity cost of producing one wristwatch? e. What is Japan's opportunity cost of producing one bushel of rice? f. What is Thailand's opportunity cost of producing one bushel of rice? g. If each country specializes in the production of the product in which it has a comparative advantage, who should produce wristwatches? h. If each country specializes in the production of the product in which it has a comparative advantage, who should produce rice?
According to the efficient markets hypothesis, who is most likely to benefit from frequently moving funds from one asset to another?
A) your broker B) small investors C) big investors D) only those who consistently beat the market
The use of countercyclical monetary and fiscal policy by the government and the Fed to steady the economy is known as
a. discretionary policy b. monetarist policy c. creative policy d. stabilization policy e. institutional policy
The adult population of a country is 60 million. Of these adults, 20 million are employed and 30 million are unemployed. Therefore, the labor force of the country is _____
a. 40 million b. 30 million c. 50 million d. 60 million