Teacher absenteeism is a problem facing education in the developing world.
Answer the following statement true (T) or false (F)
True
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Should the home country be "large" relative to its trade partners, its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms of the trade rectangle exceed the sum of the
A) revenue effect plus redistribution effect. B) protective effect plus revenue effect. C) consumption effect plus redistribution effect. D) production distortion effect plus consumption distortion effect. E) terms of trade gain.
According to the table shown, if Bob is earning $30,000 in the United States and Bill is earning $40,000 in Mexico, what can be said about their standards of living?
This table shows the price-level adjustment as compared to the United States.
A. Bill is earning more in real terms than Bob.
B. Bob is earning more in real terms than Bill.
C. Bob and Bill are earning the same amount in real terms.
D. Bob and Bill are earning the same amount in nominal terms.
A competitive firm will maximize profit by producing the level of output at which
A. the firm's total revenue exceeds total cost by the largest amount. B. the additional revenue from the last unit of output produced exceeds the additional cost of the last unit by the largest amount. C. the last unit of output produced adds the same amount to total revenue as to total cost. D. both a and b E. both a and c
Which of the following is a determinant of the price elasticity of demand for an item?
A) the availability of a close substitute for the item B) the percentage of a consumers budget allocated to expenditures on the item C) the amount of time available to adjust to a change in the price of the item D) All of the above are correct.