Foreign aid got its start after World War II when:
A. several European countries gave $12 billion in reparations.
B. several European countries began offering aid to help one another recover.
C. the UK gave $12 billion to help rebuild several European countries.
D. the U.S. gave $12 billion to help rebuild several European countries.
Answer: D
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Examples of comparative advantage show how trade between two countries can make each better off. Compared to their pre-trade positions, trade makes both countries better off because in each country
A) wages are higher. B) total consumption of goods is greater. C) total welfare is greater. D) total employment is greater.
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. Following the implementation of this tax, the total amount of emissions reduction in this industry will be
________ tons. A. 25 B. 50 C. 75 D. 100
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If twelve microwave ovens are produced, average variable costs are
A. $16.67. B. $41.67. C. $66.67. D. $166.67.
Assuming price elasticity of demand is reported as an absolute value, an inelastic demand has a measured elasticity:
A. greater than zero. B. greater than one. C. less than one. D. exactly one.