A period of stagflation is the normal aftermath of a period of
a. excess aggregate supply.
b. deficient aggregate demand.
c. excess aggregate demand.
d. high unemployment rates.
c
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Suppose that in Belize, the opportunity cost of producing a sailboat is 5 hang gliders. In Honduras, the opportunity cost of producing a sailboat is 8 hang gliders
a. What is the opportunity cost of producing a hang glider for Belize? b. What is the opportunity cost of producing a hang glider for Honduras? c. Which country has a comparative advantage in the production of hang gliders? d. Which country has a comparative advantage in the production of sailboats?
If a straight line passes through the point x = 12 and y = 4 and also through the point x = 4 and y = 8, the slope of this line is
A) seven tenths. B) negative 8 divided by 4. C) one -and one half. D) negative one half.
The achievement of greater efficiency in the United States has been at the expense of growing inequality.
Answer the following statement true (T) or false (F)
Individual transferable quotas (ITQs) have been shown to
a. increase the value of fisheries but reduce the safety of fishers as the season is shortened. b. end overfishing by making the use of efficient technology illegal. c. increase the safety of fishing but not the value to consumers of the product. d. increase the value to consumers of the product and raise the price received by fishers.