Suppose that a country is producing on its PPC at a point to the left of the tangency between the trade line and the PPC. At the production point,
A) the opportunity cost in production of the good on the horizontal axis is less than its trade price.
B) the opportunity cost in production of the good on the horizontal axis is more than its trade price.
C) the opportunity cost in production of the good on the vertical axis is less than its trade price.
D) the opportunity cost in production of the good on the horizontal axis may be either less than or more than its trade price.
A
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What organization is most important due to its distribution of multilateral aid, its expertise in development, and its strong influence on other donors?
a. the World Bank b. the World Trade Organization c. the International Monetary Fund d. the UN Development Programme
As the U.S. price level rises relative to price levels in other countries, U.S. _____
Fill in the blank(s) with the appropriate word(s).
Assume that microbrewery beer is a normal good. Prices of microbrewery beer have risen steadily in recent years. Over this same period, prices for fermenting vats used in beer making have also risen and consumer incomes have fallen. Which of the
following best explains the rising prices of microbrewery beer? A) The supply curve for microbrewery beer has shifted to the left while the demand curve for microbrewery beer has shifted to the right. B) The demand curve for microbrewery beer has shifted to the left more than the supply curve has shifted to the left. C) The demand curve and the supply curve for microbrewery beer have both shifted to the right. D) The supply curve for microbrewery beer has shifted to the left more than the demand curve has shifted to the left.
In the United States in 2016, the percentage of people who received health insurance through a government program was about
A) 10%. B) 16%. C) 36%. D) 64%.