Suppose an economist claims there are substitutes for wetlands. The person is saying
A) wetlands are of no value.
B) wetlands are worth less than their substitutes.
C) there is a cost to maintaining a wetland.
D) there is a cost to maintaining a wetland, and it is necessarily too high.
E) economists don't like wetlands.
C
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Refer to Table 2-20. If the two countries specialize and trade, who should export wristwatches?
A) Japan B) There is no basis for trade between the two countries. C) Thailand D) They should both be importing wristwatches.
The efficient functioning of an SCU depends on the accuracy and relevance of the information it receives from the various departments of the organization
Indicate whether the statement is true or false
If the government wants to raise tax revenue and shift most of the tax burden to the sellers it would impose a tax on a good with a
a. flat (elastic) demand curve and a steep (inelastic) supply curve. b. steep (inelastic) demand curve and a flat (elastic) supply curve. c. steep (inelastic) demand curve and steep (inelastic) supply curve. d. flat (elastic) demand curve and a flat (elastic) supply curve.
In a fixed exchange rate regime, which of the following policies could lead to a greater trade deficit and leave aggregate demand constant?
A) Devalue the currency. B) Increase government spending. C) Decrease government spending. D) Decrease government spending and devalue the currency. E) Increase government spending and revalue the currency.