It seems self evident that countries would have an advantage in producing those goods that use relatively large amounts of their most abundant factor of production
a. True
b. False
Indicate whether the statement is true or false
True
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Society can increase its output and income by increasing its
A. resources and/or the productivity of the resources. B. private and public sectors of the economy. C. spending and taxes. D. markets and prices.
For state residents, interest on most bonds issued by their state government is
A) exempt from state and federal income taxes. B) exempt from state, but not from federal, income taxes. C) exempt from federal, but not from state, income taxes. D) subject to both state and federal income taxes.
Which of the following statements is NOT true regarding subsidies?
A. Subsidies are like taxes in that they create deadweight loss. B. Subsidies are like taxes in that they reduce sales of the subsidized good. C. Subsidies are unlike taxes in that they increase sales of the subsidized good. D. Subsidies are unlike taxes in that they reduce the price that buyers pay for a good.
By studying the effects of choice architecture, we can:
A. expand the simplifying assumption that people always make the choices that are best for themselves. B. blend the ideas of psychology with core economic beliefs. C. open the possibility that we can no longer tell if someone is making a mistake or choosing something that is maximizing his utility. D. All of these statements are true.