International trade
A. benefits consumers but harms producers.
B. can only take place if a nation has a special natural endowment for the production of a good.
C. will occur if a nation has a comparative advantage in the production of a good.
D. represents trade between two governments.
C. will occur if a nation has a comparative advantage in the production of a good.
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What is meant by the term "tax incidence"? What is the tax incidence of the personal income tax? What is the tax incidence of the corporate income tax?
What will be an ideal response?
If real GDP per person were equal to $2,000 in 1900 and grew at a one percent annual rate, what would be the value of real GDP per person 100 years later?
A. $2,210 B. $4,000 C. $20,000 D. $5,410
Public debt is held as
A. Treasury Bills, Treasury Notes, Treasury Bonds, and U.S. Savings Bonds. B. U.S. Notes. C. bank deposits in U.S. banks. D. Federal Reserve Notes.
The Pareto superiority concept _____
a. is equivalent to utilitarianism b. is equivalent to equilibrium in a perfectly competitive market c. compares two different states of the world d. looks at a state of the world and judges its superiority