Subsidies can be used to internalize positive externalities.
Answer the following statement true (T) or false (F)
True
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Refer to Table 2-5. Estonia has a comparative advantage in the production of
A) neither product. B) lumber. C) cell phones. D) both products.
The single most important phenomenon in the U.S. labor market in the second half of the twentieth century was
A. the elimination of the glass ceiling. B. the drastic reduction in the labor force participation rate of males. C. the drastic increase in the labor force participation rate of females. D. the increase in the average number of hours worked each week. E. the elimination of child poverty.
"My brother is better at cooking, better at cleaning, and better at fixing the car than I am." Relative to me, my brother has
A) an absolute advantage in cooking, cleaning, and car repair. B) a comparative advantage in cooking, cleaning, and car repair. C) more intelligence than me. D) more income than me.
Demand relates the amounts of a good purchased to
A) the amounts actually obtained. B) the gross domestic product. C) the quantity needed. D) the sacrifices required to obtain the good. E) the time required to produce the good.