The sum of internal and external costs is
A. common property.
B. opportunity cost.
C. private cost.
D. social cost.
Answer: D
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According to the CPI basket, the largest item in the households' budgets is
A) apparel. B) education. C) food. D) transportation. E) housing.
Most cohesion funds in the EU budget go to the wealthier EU member nations
Indicate whether the statement is true or false
In general, the relationship between democracy and economic growth as demonstrated by the high-growth Asian economies is that
A) democratic nations grow faster than undemocratic nations. B) democratic nations grow slower than undemocratic nations. C) there does not seem to be a relationship between democracy and economic growth. D) democracies are much more variable in their rates of growth than undemocratic nations.
Suppose Puerto Rico and Hawaii currently have the same production possibilities so that the above figure is the PPF for hotels and consumption goods in the two areas
Hotels are a capital good that,once built, will help produce still more consumption goods. If Puerto Rico produces more hotels than Hawaii, A) Hawaii's PPF will shift outward further than Puerto Rico's PPF. B) Hawaii's PPF will shift inward. C) Puerto Rico's PPF will not shift. D) Puerto Rico's PPF will shift outward further than Hawaii's PPF. E) Puerto Rico's and Hawaii's PPF will shift outward by the same amount.