Every government's set of policies used to govern their economy:
A. vary widely from one another, making international trade a simple process.
B. vary widely from one another, making international trade sometimes difficult.
C. are largely the same, making international trade a simple process.
D. are similar in most respects, but different in a few areas, making international trade sometimes difficult.
B. vary widely from one another, making international trade sometimes difficult.
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Economists Leigh Linden and Jonah Rockoff researched the effect of the proximity of the residences of registered sex offenders to the values of other homes in the same area and found that the effects of having a sex offender in the neighborhood
A) are widespread and tend to remain unchanged with distance. B) are virtually nonexistent. C) reduce the average home value in the area by 50 percent. D) are highly localized and diminish rapidly with distance.
The exchange rate converts
a. one currency value to another b. labor units to output units c. miles to kilometers d. physical capital units to human capital units e. none of the above
Holding a group of assets reduces risk relative to holding a single asset as long as the assets
A) are dependent on each other. B) are positively correlated. C) are uncorrelated. D) do not have precisely the same pattern of returns.
As an individual moves northwest along an indifference curve substituting more and more Y for X, his or her MRS of X for Y
a. increases. b. decreases. c. stays the same. d. changes in a way that cannot be determined.