The change in the total gain to a nation from international trade is the:
a. producer surplus
b. consumer surplus.
c. excess of producer surplus over consumer surplus.
d. sum of consumer and producer surpluses.
d
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When does it make sense to offer a worker a piece-rate contract?
What will be an ideal response?
The largest spending category for state governments is
A) welfare. B) health care. C) education. D) highway construction.
The primary function of the World Bank is to:
a. lend money to the World Trade Organization. b. provide loans to countries experiencing huge budget deficit. c. finance economic development in poor countries. d. assist countries experiencing balance of payments deficits. e. finance the fiscal stabilization program of the U.S. government.
Households
a. own and sell resources b. play a very minor role in the economy c. supply goods and services d. are the largest purchasers of resources e. none of the above