If nations begin to specialize in production for the purpose of trade,
A. the utility from consumption will increase, but not the total output.
B. total world output will increase, as well as well-being from consumption.
C. total world output will increase, but well-being from consumption will not.
D. neither total output nor well-being from consumption will change.
E. the impact on total output and well-being cannot be predicted.
Answer: B
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In the above figure, the best affordable point is
A) 8 hamburgers and 0 magazines. B) 0 hamburgers and 6 magazines. C) 4 hamburgers and 3 magazines. D) some combination that is not given above.
The United States issues a $10,000 debt forgiveness to Argentina. How is this accounted for in the balance of payments?
A) financial account, U.S. asset import B) current account, Argentina transfer payment C) current account, U.S. service export D) financial account, U.S. asset export E) current account, Argentina good import
The Beard-Hacker Thesis claims that post-bellum economic growth in the United States:
a. was slowed by rapid immigration. b. was accelerated by rapid immigration from English speaking countries. c. was slowed by the formation of industrial monopolies. d. was accelerated by economic and financial changes generated by the Civil War.
If polluters are forced to pay for their pollution, they will reduce pollution toward a socially optimal amount
a. True b. False Indicate whether the statement is true or false