In the decades leading to the Civil War __________ supported high protective tariffs.
A. both the North and the South
B. neither the North nor the South
C. only the North
D. only the South
C. only the North
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In a small Asian country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $600. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.06 B) 6.6 C) 66.6 D) 666
If the supply curve of a commodity is upward sloping, and the producing country begins to export more in a pure free trade system, the domestic price of the commodity will
a. fall. b. rise. c. exceed the price in foreign countries. d. be below the price in foreign countries.
Which of the following statements is positive?
A. Higher taxes are needed to support education. B. Large budget surpluses should be avoided. C. A tax cut that benefits high-income households is acceptable. D. Tax increases tend to discourage saving.
If 80,000 people want tickets to the World Series at the current price, and there are only 55,000 tickets available,
A) the cost of obtaining a ticket for someone who doesn't yet have one will be greater than the price stamped on its face. B) the demand for tickets is highly elastic. C) the price is too low. D) the quantity purchased will be greater than the quantity supplied.