Combined, local, state, and federal governments in the United States directly employ about ________ percent of all workers.
A. 2
B. 6
C. 14
D. 27
Answer: C
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The Herfindahl-Hirschman Index is definitely larger in a ________ market than in a ________ market
A) monopoly; perfectly competitive B) monopolistic competitive; monopoly C) perfectly competitive; monopoly D) perfectly competitive; monopolistic competitive
A rational person may remain less than fully informed on an issue to be decided in an election
a. True b. False Indicate whether the statement is true or false
Assume that the U.S. can produce either 10 million cell phones or 20 million picture frames and that Canada can produce either 2 million cell phones or 6 million picture frames. Based on this information, which of the following is true? a. Both countries could benefit if the U.S. traded cell phones to Canada for picture frames. b. Both countries could benefit if the U.S. traded picture frames
to Canada for cell phones. c. Canada could gain from trade but the U.S. could not. d. The U.S. could gain from trade but Canada could not.
Which of the following observations is true of the principle of comparative advantage?
a. It arises from the absolute cost advantage. b. It helps determine most efficient patterns of production. c. It was advanced by Adam Smith. d. It means producing a good using smaller quantities of resources than others.