Specialization according to comparative advantage, followed by trade, allows everyone to acquire more of the goods they want
a. True
b. False
Indicate whether the statement is true or false
True
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Which statement about the United States at present is false?
A. We have the world's largest economy. B. The United States' federal deficits have been at record highs for the last few years. C. The Social Security and Medicare trust funds are safe for at least the next two generations. D. We are borrowing almost $2 billion a day from foreigners to finance the United States' trade and budget deficits
Suppose the capital gains tax is 28 percent and you purchased a house ten years ago for $80,000. If you sold the house today you would get $140,000. Your tax liability would be
A) $39,200. B) $16,800. C) indeterminate without knowing the inflation rate. D) indeterminate without knowing the personal income tax rate.
Which of the following is true concerning IRA's, 401(k) and 403(b) plans?
a. There are no limits on the amount of funds people can hold in them. b. Some people are not eligible to hold them. c. There are never penalties for withdrawals. d. All of the above are correct.
Monetary policy refers to the actions the Federal Reserve takes to manage
A) the money supply and income tax rates to pursue its economic objectives. B) the money supply and interest rates to pursue its economic objectives. C) income tax rates and interest rates to pursue its economic objectives. D) government spending and income tax rates to pursue its economic objectives.