Countries are concerned about small changes in their average annual growth rates in per capita income because
A) growth rates are a factor in U.N. participation.
B) the power of compounding means small changes have large effects over time.
C) growth rates tend to decline over time.
D) the faster a country grows today, the less it will be able to consume in the future.
B
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Refer to the figure above. What is the producer surplus after Lithasia opens up to free trade?
A) $2 B) $3 C) $6 D) $9
Labor unions
a. prefer to operate in states with right-to-work laws. b. are similar to cartels. c. play a larger role in the current U.S. economy than in European countries such as Norway and Sweden. d. attract a membership of about 25 percent of current U.S. workers.
Which of the following environmental problems is among the most-easily solved?
A. a nation's air pollution issues B. the world's global warming issues C. waste water treatment D. a nation's coastal water pollution issues
Adverse selection:
A. usually causes prices to adjust faster than they otherwise would. B. results in fewer market transactions. C. increases the efficiency of most markets. D. makes it easier for all customers to find what they want.