The above figure shows the U.S. market for wheat. With international trade, the price of wheat in the United States is ________ per ton and the United States ________ wheat
A) $16; exports
B) $14; exports
C) $14; imports
D) $16; imports
E) $14; does not trade
A
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If a household has a single woman and three kids, has a standard deduction of $6,300, has itemized deductions of $10,650, and personal exemptions of $12,000 (3*$4,000), then the first ________ of income is federal income tax free.
A. $18,300 B. $22,650 C. $16,850 D. $28,950
Voluntary organizations that work with and on behalf of mostly local grassroots organizations in developing countries are termed
(a) international organizations. (b) nongovernmental organizations. (c) multilateral institutions. (d) equity organizations. (e) none of the above.
If a negative externality exists in the market for dirt bikes and that market is perfectly competitive:
A. less than the efficient output of dirt bikes will be produced. B. the price of dirt bikes equals the marginal social cost. C. the price of dirt bikes is less than the marginal social cost. D. the price of dirt bikes exceeds the marginal social cost.
In terms of economic and social conditions, how do industrially advanced countries and developing countries differ?
What will be an ideal response?