Economics is the study of the logic of
a. rational decisions.
b. decision-making activities.
c. ends and means.
d. choosing options from those available.
e. All of the above are correct.
e
You might also like to view...
Having a comparative advantage in the production of a good implies that a country
a. should specialize in the production of the good b. is able to produce the good with fewer resources than another country c. should not specialize in the production of the good d. also has the absolute advantage in the production of the good e. cannot have an absolute advantage in the production of the good
If there are concerns about moral hazard and adverse selection in a country
A. economic growth will reduce. B. there will be more foreign direct investment. C. it will be easier to arrange financing for new development projects. D. there will be more portfolio investment.
Which of the reasons given for tariff protection make consumers better off by generating lower prices?
A. infant industry argument B. protecting U.S. jobs argument C. anti-dumping argument D. None provide lower prices for domestic consumers.
The most commonly used price index to track changes in prices for the typical household in the U.S. is:
A. consumer price index. B. average price index. C. retail price index. D. producer price index.