Consumers of the exportable product in the exporting country are most likely to gain when trade is based on
A. increasing-cost industries.
B. technological differences.
C. external scale economies.
D. different factor endowments.
Answer: C
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Along with changes in the level of economic activity, measured by GDP, what other economic variable tends to rise and fall as a consequence?
A. Precipitation B. Regulation C. Circulation D. Unemployment
In a progressive tax system, ________
A) the average tax rate equals the marginal tax rate B) the marginal tax rate exceeds the average tax rate C) the average tax rate exceeds the marginal tax rate D) the average tax rate is equal for all taxpayers
If social returns to the production of a good are greater than private returns, then we can conclude that relative to the social optimum, the good will be
A) over produced and under priced. B) under produced and over priced. C) over produced and over priced. D) under produced and under priced. E) None of the above.
Which of these economic variables is countercyclical?
A) investment spending B) unemployment C) demand for foreign products D) all of the above E) none of the above