If a country has a comparative advantage in tea moved from autarky to free trade, this would cause what reaction in the world market?
A. Domestic tea producers would be opposed.
B. Foreign tea producers would be opposed.
C. Foreign tea consumers would be opposed.
D. Foreign producers would be in favor of.
B. Foreign tea producers would be opposed.
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The first two numbers of the ABA code listed on the check designate:
A. the account number B. the routing number C. the Federal Reserve District D. the code indicating the business or personal account
Behavioral mechanism design economists face which of the following problems when solving policy issues?
A. How to find the right combination of social and moral incentives but without considering prices B. How much mathematics to include in the model, an issue only behavioral economists face C. How to convince people that their approach to policy issues will work, an issue only behavioral economists face D. How to find the right combination of market, social, and moral incentives that will achieve a goal
A firm experiences diminishing marginal returns because:
A. all factors of production are variable. B. people "learn by doing." C. all factors of production are fixed. D. at least one factor of production is fixed.
When you see a commercial on TV asking you to "look for the union label," the union is trying to
A) increase worker productivity. B) increase the demand for nonunion goods. C) increase the demand for union goods. D) decrease the demand for nonunion goods.