The (age) dependency ratio is the
a. ratio of children to the total population
b. ratio of people not of working age to the total population
c. ratio of infants to the total population
d. ratio of the elderly to the total population
e. none of the above
B
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"Diminishing marginal utility means a downward sloping total utility curve." True or false? Explain
Indicate whether the statement is true or false
In Heckscher-Ohlin (H-O) theory, differences in ________ across countries are considered to be the basis for comparative advantage.
A. factor endowments B. production technologies C. economic freedom D. consumer tastes and preferences
The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted.
Which of the following correctly identifies the net change in national welfare due to the provision of the export subsidy by the domestic government?
A. The net loss in well-being for the exporting country is area (b + d). B. The net gain in well-being for the exporting country is area (b + d + f + g + i +j). C. The net loss in well-being for the exporting country is area (b + d + f + g + h + i + j). D. The net gain in well-being for the exporting country is area c.
Monopolists earn excessive profits by increasing their quantity produced above the competitive market outcome.
Answer the following statement true (T) or false (F)