In 2015, three of the world's four largest corporations were headquartered in China.
Answer the following statement true (T) or false (F)
True
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One of the key economic questions is "where should products be produced?"
Indicate whether the statement is true or false
Currently, which sector of the economy is consistently a net saver?
A) the household sector B) the business sector C) the federal government D) the foreign sector
Consider a policy proposal that aims to save small dairy farms by providing an annual lump sum subsidy to dairy farms with fewer than two hundred dairy cows
Why might this proposal pass, even if it benefits a few dairy farmers at the expense of the majority of voters? a. The program might only cost each voter a few pennies and yet benefit small dairy farmers immensely. b. The American people value the small dairy farm highly and want to see it preserved. c. A cyclical majority makes it possible for the proposal to pass although it is not generally preferred. d. Voters think it will result in cheap milk.
Suppose Japan exports televisions to the United States and imports sugar from Argentina. This situation suggests
a. Japan has a comparative advantage relative to the United States in producing televisions, and Argentina has a comparative advantage relative to Japan in producing sugar. b. Japan has a comparative advantage relative to the United States in producing sugar, and Argentina has a comparative advantage relative to Japan in producing televisions. c. Japan has an absolute advantage relative to the United States in producing televisions, and Argentina has an absolute advantage relative to Japan in producing sugar. d. Japan has an absolute advantage relative to Argentina in producing sugar, and the United States has an absolute advantage relative to Japan in producing televisions.