The greatest benefit to an economy from international trade is:
A. greater employment in the export sector of the economy.
B. the economic power it gives a nation over other countries.
C. full employment of its labor force.
D. consumption beyond domestic production possibilities.
D. consumption beyond domestic production possibilities.
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Laws and courts tend to make markets work ________ and make society ________
A) less effectively; poorer B) less effectively; richer C) more effectively; poorer D) more effectively; richer
Banks are better at solving the stockholder-lender conflict than rating agencies when they
A) are allowed to hold a substantial ownership stake in the borrowing firm. B) steer clear of holding any ownership stake in the borrowing firm. C) operate in markets-oriented financial systems. D) issue individually-approved loans rather than lines of credit.
Taxes collected on the basis of the benefits-received principle
a. provide the states with their main sources of revenue b. tend to redistribute income from rich to poor c. collect the same total amount from each individual d. connect the revenue side of the budget with the spending side of the budget e. make it possible for government to spend money on activities that markets can't provide
When a price ceiling that has an impact is imposed, it has the effect of
A. decreasing quantity supplied and increasing quantity demanded. B. decreasing both quantity supplied and quantity demanded. C. increasing quantity supplied and decreasing quantity demanded. D. increasing both quantity supplied and quantity demanded.