"Dividing the economic pie more equally may reduce the size of the economic pie." This argument is characterized as:
A. a trade off between interest rates and unemployment.
B. a form of discrimination.
C. a conflict between equity and efficiency.
D. a conflict between full employment and economic growth.
Answer: C
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The United States is called a debtor nation because
A) it has a large current account deficit and is simultaneously funded by foreign investment. B) it has a large balance of payments deficit that is used to fund the current account deficit. C) U.S. capital outflows are much greater than U.S. capital inflows. D) it has a large financial account deficit that is used to fund the current account deficit.
A tariff affects imports
a. by limiting quantity and raising price to a higher level. b. by reducing quantity demanded so that supply falls. c. by increasing supply, raising price, and reducing demand. d. by raising price and reducing quantity demanded.
If the government knew the level of potential income and had sufficient information about the economy it could fine-tune the economy.
Answer the following statement true (T) or false (F)
For a monopoly, marginal cost equals average total cost at every level of output.
Answer the following statement true (T) or false (F)