Which of the following would be most likely to improve the standard of living of a less-developed country?
a. Development of strong labor unions.
b. More foreign investment, attracted by the expectation of economic and political stability.
c. Adoption of trade barriers (higher tariffs and quotas).
d. Widespread use of price controls to allocate goods and resources.
b
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) What part of domestic output in country A is the total wage bill before and after the immigration?
A. $500M before and $800M after
B. $500M before and $100M after
C. $400M before and $100M after
D. $400M before and $500M after
State governments receive half of their tax revenue from property taxes.
Answer the following statement true (T) or false (F)
The reoccurrence of contagious diseases should be significantly lower in a technically advanced nation such as the United States. This statement is best described as
A. a marginal statement. B. an implication of an efficient market. C. a normative statement. D. a positive statement.
Generally, most economists feel that a sales tax is:
a. regressive. b. proportional. c. progressive. d. fair.