Which of the following is not a type of trade restriction?
a. low-interest loans to foreign buyers
b. export subsidies for domestic firms
c. domestic content requirements
d. restrictive health and safety standards
e. economies of scale
E
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Smith and Jones comprise a two-person economy. Their hourly rates of production are shown below. CalculatorsPer HourComputersPer HourSmith10010Jones1206Suppose Smith and Jones begin by producing 0 computers and 220 calculators per hour. If they wish to produce 2 computers and 200 calculators per hour efficiently, then Smith should spend ________, and Jones should spend ________.
A. 48 minutes on computers and 12 minutes on calculators; 1 hour on calculators B. 12 minutes on computers and 48 minutes on calculators; 1 hour on calculators C. 30 minutes on each; 30 minutes on each D. 1 hour on calculators; 10 minutes on computers and 50 minutes on calculators
A society that relies on a market-based economy will always protect the natural environment.
Answer the following statement true (T) or false (F)
In 1860, earnings from cotton exports
(a) were minimal. (b) accounted for a small percentage of Gross Domestic Product. (c) exceeded the total revenue of the U.S. government by four-fold. (d) were what attracted the majority of agriculturalists into cotton production.
The view that many welfare mothers have baby after baby to keep their welfare checks rising is a view held by
A. many conservatives. B. many liberals. C. both many liberals and conservatives. D. neither many liberals nor many conservatives.