Which of the following is NOT a true statement about economic sanctions?
A) Economic sanctions are aimed at broad policy objectives, such as the end of apartheid.
B) Economic sanctions can seriously harm the economy of a country on which they are imposed.
C) Economic sanctions are usually effective in achieving policy goals.
D) Economic sanctions may not be sufficient to achieve policy goals without military force or other measures.
C
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A production possibilities curve indicates that when resources are being used efficiently,
a. you can only produce more of one good only if you lower its price. b. you can only produce more of one good only if you produce more of another good. c. you can only produce more of one good only if you produce less of another good. d. it is impossible to expand the total output of goods over time.
Dollar bills, rare paintings, and emerald necklaces are all
a. media of exchange. b. units of account. c. stores of value. d. All of the above are correct.
How might a restaurant manager use the concept of diminishing marginal utility to increase sales to her regular dinner customers?
a. She could expand the variety of options available at each price point on the dinner menu. b. She could increase portion size without raising the price of the dinner menu items. c. She could offer premium versions of dinner menu items to make the regular items seem more affordable. d. She could offer a discount on dessert only to people who order dinner.
The free rider problem causes goods not to be produced when
A) the opportunity cost of providing them is low. B) the quantity supplied is greater than the quantity demanded. C) they can't be produced by government. D) they can't be provided exclusively to the people who pay for them.