Theories of international economics from the 18th and 19th Centuries are
A) not relevant to current policy analysis.
B) only of moderate relevance in today's modern international economy.
C) highly relevant in today's modern international economy.
D) the only theories that actually relevant to modern international economy.
E) not well understood by modern mathematically oriented theorists.
C
You might also like to view...
Which of the following is likely to shift the labor supply curve to the left, assuming all else equal?
A) A rise in the wage rate B) A social change that discourages women to participate in the labor force C) A fall in the wage rate D) Decrease in the maximum amount of unemployment benefits
If we observe that William's budget constraint has moved inward, then we know for certain that
a. his income must have decreased. b. he will be indifferent between goods X and Y. c. the price of one or both of the goods must have increased. d. his utility will decrease.
Which of the following is the most accurate statement about the effects of quality change on the CPI?
a. Even though the BLS adjusts the prices of products in the CPI basket when the quality of the products changes, changes in quality are still a problem because quality is so hard to measure. b. Because the BLS adjusts the prices of products in the CPI basket when the quality of the products changes, changes in quality are no longer a problem for the CPI. c. The BLS does not adjust the CPI for quality changes. d. Most economists believe that changes in the quality of goods included in the CPI basket do not bias the CPI as a measure of the cost of living.
Suppose that the market price of good A equals the firm's cost of producing that good, but it does not reflect any costs imposed on society. Which of the following is FALSE?
A) The good is priced too low. B) An external benefit is associated with good A. C) Resources are over-allocated in the production of good A. D) Too much of good A is being produced.