In the mid-1980s, in which communist country did the credo change from "From each according to his ability, to each according to his needs" to "More pay for more work, less pay for less work"?
A. The Soviet Union
B. Vietnam
C. Cuba
D. China
D. China
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The net increase to total surplus when a negative externality is corrected or eliminated is due to:
A. the transfer of surplus from consumer or producer to those affected by the externality. B. the transfer of surplus from those affected by the externality to the consumer. C. the reduced number of transactions in the market. D. None of these statements is true.
Relative to the supply curve of high-skilled workers, the supply curve of low-skilled workers is
A) to the right. B) above. C) to the left. D) on top of the high-skilled worker supply curve.
The difference between nominal and real interest rates is that
A. real interest rates are what you get after having adjusted nominal rates for inflation. B. nominal interest rates are what borrowers pay and real interest rates are what lenders receive. C. real interest rates are almost always greater than nominal interest rates. D. nominal interest rates are what lenders receive and real interest rates are what borrowers pay.
The following can be analyzed using econometrics:
A. labor supply. B. market demand. C. tax-setting behavior. D. poverty. E. all of these answer options are correct.