A balance-of-payments surplus for the United States can be corrected by
A. Increasing quotas on foreign goods.
B. Increasing U.S. taxes.
C. Subsidizing U.S. exports.
D. Reducing tariffs on foreign goods.
Answer: D
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The major impact unemployment insurance has on the U.S. economy is that it
A. incentivizes people to work. B. spreads the cost of unemployment. C. eliminates the social cost of job loss. D. prevents the emotional impact of job loss.
If a firm is experiencing _____________________, then as the quantity of output rises, the average cost of production rises.
a. decreasing returns to scale b. consent returns to scale c. economies of scale d. increasing returns to scale
Gold is a major reserve asset that is currently used in most official reserve transactions.
Answer the following statement true (T) or false (F)
The accumulated training and education that you have is
A. human capital. B. physical capital. C. entrepreneurship. D. economic goods.