One economic advantage of a large share of exports in GDP is that countries
A) can reduce their budget deficits.
B) can purchase the imports they need.
C) can maintain lower rates of unemployment.
D) will have greater equality in their incomes.
E) develop more labor-intensive industry.
B
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Metering is
a. A form of indirect price discrimination b. A form of direct price discrimination c. An evaluation of a product d. An example of bundling
Which of the following best defines consumer surplus?
a. the amount that individuals actually paid, minus the amount that they would have been willing to pay b. the amount that a seller is paid for a good minus the seller’s actual cost c. the amount that individuals would have been willing to pay, minus the amount that they actually paid d. when it is impossible to improve the situation of one party without imposing a cost on another
Carlos can buy either sushi or eggrolls. If the prices of sushi and eggrolls triple and Carlos's money income doubles, we can deduce that Carlos's budget constraint will
A. shift in but remain parallel to the old one. B. swivel in so that the slope of the budget constraint is doubled. C. shift out but remain parallel to the old one. D. remain unchanged.
Describe the differences between tradeoffs and free lunches in terms of a PPF
What will be an ideal response?