When a government imposes a tariff on a product, the domestic price will equal the world price
a. True
b. False
Indicate whether the statement is true or false
False
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The coordination task of any economy that answers the question of how output shall be divided among consumers may best be described as
a. output selection. b. production planning. c. distribution. d. None of the above is correct.
One benefit of U.S. society that encouraged entrepreneurship was the inflow of capable immigrants
a. True b. False Indicate whether the statement is true or false
An antidrug policy that reduces the supply of heroin might:
A. increase street crime because the addict's demand for heroin is highly inelastic. B. reduce street crime because the addict's demand for heroin is highly elastic. C. reduce street crime because the addict's demand for heroin is highly inelastic. D. increase street crime because the addict's demand for heroin is highly elastic.
If residents of the United States give more gifts to relatives abroad than they receive, unilateral transfers will be
A) positive. B) unaffected. C) negative. D) zeroed out.