For state and local governments, in 2011, education accounted for approximately what percentage of spending?
a. 25 percent
b. 34 percent
c. 50 percent
d. 75 percent
b
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Unemployment benefits in western Europe are more generous than in the United States. As a result, ________ in the United States
A) frictional unemployment is higher B) frictional unemployment is lower C) cyclical unemployment is higher D) structural unemployment is higher E) avoidable unemployment is lower
The fundamental force driving international trade is comparative _______
A. advantage: a country exports those goods that have high prices B. abundance: the country that produces more than it needs exports the good C. advantage: the country with the lower opportunity cost of production exports the good D. cost: a country trades with other countries that produce cheaper goods
A firm engages in price discrimination when it:
A. charges different prices for different units of different goods. B. charges the same price for different units of the same good. C. charges a higher price for units for which the willingness to pay is high than for those units for which the willingness to pay is low. D. charges a lower price for units for which the willingness to pay is high than for those units for which the willingness to pay is low.
What would be the output combination for two products A and B on the production possibility frontier, if a country uses its entire resources for producing A?
A. A: maximum, B: zero B. A: maximum, B: maximum C. A: zero, B: maximum D. A: zero, B: minimum