In 2008, the Los Angeles Times asked members of the American public whether free international trade has helped or hurt the economy. Of those surveyed,
a. 57 percent said free international trade helped the economy.
b. 26 percent said free international trade helped the economy.
c. 30 percent said free international trade hurt the economy.
d. 16 percent said free international trade hurt the economy.
b
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How do taxes, pollution charges, and cap-and-trade work to reduce emissions?
What will be an ideal response?
The size of a tax and the deadweight loss that results from the tax are
a. positively related. b. negatively related. c. independent of each other. d. equal to each other.
When the price of an inferior good increases,
a. both the income and substitution effects encourage the consumer to purchase more of the good.
b. both the income and substitution effects encourage the consumer to purchase less of the good.
c. the income effect encourages the consumer to purchase more of the good, and the substitution effect encourages the consumer to purchase less of the good.
d. the income effect encourages the consumer to purchase less of the good, and the substitution effect encourages the consumer to purchase more of the good.
Examples of command economies are:
A. the United States and Japan. B. Sweden and Norway. C. Mexico and Brazil. D. Cuba and North Korea.