Total U.S. consumption possibilities will increase if the United States:
A. imports a product for which the exporting country has the comparative advantage.
B. never imports a product that can be produced by American workers.
C. has consumers who join together and adopt a "Buy American" policy.
D. agrees to subsidize imports of products, such as computers, that represent the comparative advantage of domestic U.S. manufacturing firms.
A. imports a product for which the exporting country has the comparative advantage.
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Which of the following is NOT an example of a good with an external cost?
A) electricity generation producing carbon dioxide emissions that contribute toward global warming B) logging that pollutes a nearby river C) Jess smoking near her non-smoking roommate D) Ahmed working at a bank and getting a flu shot each fall E) noise pollution from aircraft
Do economists analyze people's thought processes or do they look at what people actually do?
A) Economists focus only on people's thought processes. B) Economists focus on what people do, not their thought processes. C) An economist's focus is about half-and-half between actions and thought processes. D) Macroeconomists focus on thought processes while microeconomists focus on actions.
A significant lag for monetary policy is the time it takes to for a change in the money supply to change the economy. A significant lag for fiscal policy is the time it takes to pass legislation authorizing it
a. True b. False Indicate whether the statement is true or false
________ is financed through general revenues.
A. Unemployment compensation B. Medicare C. The SNAP program D. The Social Security system