The difference between exports and imports in GDP is called
A) import tariffs. B) net exports. C) net imports. D) gross imports.
B
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Citizen voters are typically ignorant of many political issues because
A) information is not a good. B) information is only a free good. C) information is a scarce good. D) politicians have always conspired to keep voters misinformed.
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. During Period 4, output per capital is equal to
A. 0.35. B. 1.77. C. 2.88. D. 4.6.
If it is desirable to enhance the incomes of factors used intensively in the import-competing industry, then a tariff actually lowers national welfare.
Answer the following statement true (T) or false (F)
A firm's marginal revenue product of labor curve is also
A) its labor demand curve. B) its marginal cost curve. C) its total revenue line. D) its long-run input cost function.