The gains from specialization and trade are based on ______ advantage
Fill in the blank(s) with correct word
comparative
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Which of the following are used as nontariff barriers?
A) health and safety standards B) government procurement policies C) domestic content laws D) All of the above
The flu vaccination example in Section 1.1 of the textbook is an example of how policy makers may cope with
A) scarcity of medical treatment. B) scarcity of patients. C) scarcity of policy makers. D) answering the question of how to produce.
Capital gains tax liabilities usually
A. must be recognized and paid by the estate of the decedent upon death. B. are recognized only upon the sale of a capital asset. C. are recognized before the sale of a capital asset as the gain actually accrues. D. do not include any taxation of actual inflation.
Regarding the nation's money supply, the Federal Reserve
A. precisely sets the amount of money in circulation in consultation with the Congress. B. gives the U.S. Treasury the authority to print as much as it wishes. C. has no ability to influence its magnitude or its rate of growth. D. has a major impact on its rate of growth.