The main reason our current account deficit is so large is that
A. we are running huge merchandise trade deficits.
B. we are running huge federal budget deficits.
C. we are allowing too much foreign investment in the United States.
D. we are investing too much abroad.
A. we are running huge merchandise trade deficits.
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Lee and Cody are playing a game in which Lee has the first move at A in the decision tree shown below. Once Lee has chosen either aggression or cooperation, Cody, who can see what Lee has chosen, must choose either aggression or cooperation at B or C. Both players know the payoffs at the end of each branch. 
If Lee chooses aggression, Cody will respond with ________, and if Lee chooses cooperation, Cody will respond with ________.
A. aggression; aggression B. cooperation; aggression C. cooperation; cooperation D. aggression; cooperation
U.S. antitrust laws are designed to prohibit monopolization and encourage competition. Why, then, does the government erect barriers to entry and create monopoly power by granting firms patents?
What will be an ideal response?
Suppliers will be willing to supply a product in all of the following situations except when
A) the price received is greater than the additional cost of producing the product. B) the price received is at least equal to the additional cost of producing the product. C) the price received is equal to the additional cost of producing the product. D) the price received is less than the additional cost of producing the product.
Utilitarianism is inconsistent with _____
a. the social welfare function b. cost-benefit analysis c. the Pareto criteria d. slavery