All possible combinations of goods that can be purchased at fixed prices with a specific income is
A) a marginal utility curve.
B) a total utility curve.
C) an indifference curve.
D) a budget constraint.
Answer: D
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Refer to the scenario above. If Lawland's net factor payments from abroad equals zero and net transfer payments from abroad is negative, ________
A) Lawland is likely to experience a net outflow of assets B) Lawland is likely to experience a current account surplus C) Lawland is likely to experience a current account deficit D) Lawland is likely to stop trading with its trading partners A country imported goods and services worth $40 billion and exported goods and services worth $37.8 billion during a particular year.
Which of the following is a reason for long-run potential growth of real GDP?
A) yearly growth of the labor force B) growth of the stock of physical capital over time C) improvements in technology over time D) all of the above
Why is the U.S. putting less emphasis on multilateral and more emphasis on bilateral trade agreements?
What will be an ideal response?
The contributive standard (merit standard) for distributing income implies that
A) income should be distributed equally. B) income should be distributed according to need. C) income should be distributed according to the marginal productivity of workers. D) a transfer should be contributed to an individual above his or her contribution to net output.