Japanese rice farmers are facing the same kind of economic future as American corn farmers have faced
Indicate whether the statement is true or false
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A nation that currently has a surplus in its current account is called a
A) creditor nation. B) debtor nation. C) net borrower. D) net lender. E) capital account surplus nation.
Actions to lower the probability of a bad outcome ________ its expected cost and these actions are ________.
A) increase; inexpensive B) decrease; costly C) decrease; inexpensive D) increase; costly
Bartering is:
A. very efficient compared to using money. B. slightly inefficient compared to using money. C. just as efficient as using money. D. extremely inefficient compared to using money.
Procrastination, addiction, and honesty
a. may be explained by preferences that are not transitive b. violate the economist's assumption that "more is better" c. help to explain why the substitution effect is more powerful than the income effect d. are often inconsistent with narrowly defined rationality e. are inferior economic "goods".