Advocates of nudge policy argue that these policies are libertarian because they:
A. enhance happiness and therefore liberty.
B. correct market distortions.
C. change incentives without forcing people to make particular decisions.
D. leave people free to make their own choices.
Answer: D
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The biggest category of state and local expenditures are:
a. education. b. defense. c. transfer payments. d. none of the above.
The United States and Mexico recently negotiated a trade agreement that eliminated many of the restrictions on trade between the two countries
a. Using the tools of microeconomics, describe how such an agreement will benefit both the USA and Mexico. b. Will everyone benefit from such an agreement? who stands to lose from such an agreement. Why?
Which of the following is an imperfection of market economies?
a. They produce inexpensive services but expensive manufactured goods. b. They place undue importance on the needs of future generations. c. They cannot provide certain goods such as national defense. d. They distribute income too unequally.
According to new trade theory, first movers in an industry can gain a scale-based _____ advantage that later entrants find almost impossible to match.
Fill in the blank(s) with the appropriate word(s).