Deadweight loss is another term for excess burden.
Answer the following statement true (T) or false (F)
True
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Answer the following statements true (T) or false (F)
1. Concern with the level of employment in the economy is a macroeconomic issue. 2. Microeconomics is a study of aggregates in the economy. 3. An economy’s wealth consists of a multitude of consumer and capital goods. 4. Economic services lack the characteristic of transferability found in economic goods.
Most economists:
A. oppose free trade. B. would prefer to have no trade with other nations. C. favor free trade. D. have no opinion on free trade.
Comparative advantage indicates which specific terms of trade will arise, given two countries' production possibilities
a. True b. False Indicate whether the statement is true or false
According to the fourth Geneva Convention, willful killing, torture, and inhumane treatment are considered to be
a. war crimes. b. preemptive strikes. c. normative conflicts. d. military interventions.