The gap between consumption and income can never be particularly large
Indicate whether the statement is true or false
F
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What are economies of scope?
a. lower average costs when multiple different products are produced b. higher average costs when multiple different products are produced c. Constant average costs when multiple different products are produced d. none of the above
The argument for using coercion or force rather than relying entirely upon voluntary gift giving to assist very poor people is that
What will be an ideal response?
The text argues that if avocado growers in Mexico can produce avocadoes cheaper than avocado growers in the United States, this will not reduce total jobs available in the United States. The logic underlying this argument is that
A. avocado growers in Mexico need the jobs more than Americans do. B. avocado growers in the United States will switch to specializing in a crop in which they hold the comparative advantage. C. avocado growers in the United States did not earn much anyway. D. avocado growers in the United States are welcome to emigrate to Mexico.
Refer to the information provided in Figure 4.1 below to answer the question(s) that follow.
Figure 4.1Refer to Figure 4.1. At the world price of 30 cents per apple, the United States imports ________ million apples per day.
A. 2 B. 4 C. 6 D. 10