Trade benefits a country by
A) increasing available consumption choices.
B) reducing the need for specialization in production.
C) reducing the relative price of the exported good.
D) increasing the real income of all resource owners.
E) increasing the wage rate.
A
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Progressive wage taxes cause worker leisure/consumption budgets (with leisure on the horizontal axis) to become steeper as leisure increases.
Answer the following statement true (T) or false (F)
What kinds of domestic policies, short of significant debt reduction, can be followed to alleviate a debt crisis? How effective have these policies been?
What will be an ideal response?
Which of the following statements about the "separate but equal" provision of Plessy v. Ferguson is MOST accurate?
a. resulted in African-American schools that were comparable to white schools. b. resulted in African-American schools that were preferable to white schools in the South. c. did not seriously hamper the labor market experience of African-Americans. d. led to the creation of African-American schools that were systematically under funded.
The relationship between the quantity of real balances demanded and the rate of interest (called the demand for money curve) will ____ when GDP increases because _____.
A) increase (shift right); more transactions balances are needed to make purchases and to hold between pay periods B) increase (shift right); more asset balances are needed for saving or precautionary reasons C) decrease (shift left); fewer transactions balances are needed to make purchases and to hold between pay periods D) decrease (shift left); lower asset balances are needed for saving or precautionary reasons