China has developed a comparative advantage in the production of children's toys. The source of this comparative advantage is
A) superior process technology.
B) a large supply of natural resources.
C) a large supply of unskilled workers and relatively little capital.
D) investment in capital used to produce toys.
C
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On the "demand side" of a market, consumers indicate what they are willing to buy, in what quantity and at what price
Indicate whether the statement is true or false
If pollution is reduced below the socially efficient level:
a. the marginal cost of pollution abatement exceeds the marginal benefit of pollution abatement
b. the marginal cost of pollution abatement is less than the marginal benefit of pollution abatement.
c. the marginal cost of pollution abatement equals the marginal benefit of pollution abatement.
d. nothing can be said about the relationship between the marginal cost and marginal benefit of pollution abatement.
The real seignorage collected by the government in an all-currency economy is the product of
A. the debt-GDP ratio and the real money supply. B. the debt-GDP ratio and the rate of inflation. C. the rate of inflation and the real supply of government bonds. D. the rate of inflation and the real money supply.
Economic growth can best be portrayed as a(n)
A. outward shift of the production possibilities frontier. B. movement from a point inside to a point outside of the production possibilities frontier. C. inward shift of the production possibilities frontier. D. movement from a point near the vertical axis to a point near the horizontal axis on the production possibilities frontier.