Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3.
B. -1.5.
C. -3.
D. -30.
Answer: B
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If the U.S. put an import quota on clothes dryers, it would
a. raise U.S. net exports of clothes dryers and raise net exports of other U.S. goods. b. raise U.S. net exports of clothes dryers and lower net exports of other U.S. goods. c. lower U.S. net exports of clothes dryers and raise net exports of other U.S. goods. d. lower U.S. net exports of clothes dryers and lower net exports of other U.S. goods.
One In the News article states that the underground economy includes transactions that are untaxed or unaccounted for in GDP. According to this article, the underground economy
A. Involves a small percentage of households. B. Includes only illegal transactions. C. Impacts the amount of tax dollars collected by the IRS. D. Is captured in GDP.
Which of the following will always cause a reduction in net exports?
A) an increase in domestic output B) a reduction in the real exchange rate C) a reduction in government spending D) a reduction in investment E) all of the above
Some governments have adopted statutes that require, under certain circumstances, payment greater than fair market value be paid to property owners for property seized through eminent domain
Indicate whether the statement is true or false