Economists:
A. are not concerned with the distributional effects of trade.
B. disagree with laypeople that the distributional effects of trade are important.
C. do not generally include the distributional effects of trade in their models.
D. cannot measure the distributional effects of trade.
Answer: C
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A British inventor sells a patent to a U.S. corporation for $25,000. If the financial account remains unchanged, the result is ________.
A. always desirable B. undesirable if the economy is below full employment C. always undesirable D. undesirable if the economy is above full employment
According to empirical evidence
A) providing international aid to developing nations stimulates economic growth. B) providing international aid to developing nations does not have a positive effect on economic growth. C) international trade stimulates economic growth in richer nations, but actually slows economic growth in developing economies. D) international trade stimulates economic growth in developing economies, but actually slows economic growth in richer nations.
________ is(are) the profits that a government receives because the value of money printed is greater than the cost of printing it
A) Seignorage B) Money revenue C) Currency gain D) Printing income
If consumers spend a small proportion of their income on a good, the demand curve for the good will be: a. elastic
b. inelastic. c. perfectly inelastic. d. unit elastic.