Which of the following is counted as a benefit from international trade?
A) New production processes developed in one nation are transmitted to others.
B) Intellectual property such as music and computer applications is introduced throughout the world.
C) New goods have been introduced to other parts of the world.
D) All of the above are benefits from international trade.
D) All of the above are benefits from international trade.
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The 2001 and 2003 tax cuts of the George W. Bush administration each had provisions to
A. lower the earned income tax credit. B. raise tax rates at the upper end. C. raise tax rates at the lower end. D. increase (or speed up the already scheduled increase in) the child tax credit.
When we cannot produce more of any good without giving up some other good that we value more highly, we have achieved
A) production. B) equity. C) allocative efficiency. D) the production point where the marginal benefit exceeds the marginal cost by as much as possible.
A monopoly has ______ seller(s) in the market.
A. 0 B. 1 C. 3 D. many
A subsidy is the same thing as a tax deduction
Indicate whether the statement is true or false