In 2012, which of the following countries had negative net export spending in GDP?
A) Germany B) Hong Kong C) the United States D) China
C
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Free trade ________ living standards by ________ economic efficiency
A) lowers; eliminating B) raises; equalizing C) lowers; decreasing D) raises; increasing
The Field Hypothesis (2003) suggests that production possibilities expanded during the depression years. Much of the resulting increase in potential went unrealized, though. This explains why potential output in 1942 was greater than expected
Indicate whether the statement is true or false
What is the purpose of a strike? What are the costs to workers and to management?
What will be an ideal response?
Suppose Company P could create a socially beneficial product if they were sure they could make a profit by doing so. What could the government do to help them?
a. Grant a patent to Company P to eliminate competition for a period of time. b. Pass legislation requiring Company P to create the product. c. Place a restriction-of-trade tax on Company P if they fail to create the product. d. Seize the plans for the product and create the product in a government facility.