Health problems prevent people from working harder, which can lower a country's total income. This indicates that in effect, health problems
A) are a primary cause of price decreases.
B) increase the incentive to work.
C) shift a country's production possibilities frontier inward.
D) decrease consumer surplus.
Answer: C
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The figure above shows that the deadweight loss from the tariff is
A) $20 million per year. B) $30 million per year. C) $15 million per year. D) $55 million per year. E) zero.
During the antebellum period, the majority of the family labor on farms was devoted to investment type of activities—clearing land, constructing fences and buildings, and feeding and breeding livestock
Indicate whether the statement is true or false
If Wes in Wisconsin buys $200 worth of stock in Toshiba, and the Japanese use the $200 to buy a wheel of cheese from Wes, then the U.S. net exports:
A. and net capital outflow are both zero. B. and net capital outflow both equal $200. C. is zero and net capital outflow is $200. D. equals $200 and net capital outflow is zero.
Suppose there are no barriers to entry in the market for facial tissues, where two brands dominate the industry. According to the theory of contestable markets, the price charged for facial tissues will be:
A. roughly equal to the cost of producing a box of facial tissue. B. far above the cost of producing a box of facial tissue. C. far below the cost of producing a box of facial tissue. D. much higher for the number-one-selling brand than it is for the number-two-selling brand.