A quota ordinarily specifies both minimum and maximum amounts of goods that can come into a country
a. True
b. False
Indicate whether the statement is true or false
False
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National wealth includes
a. machinery and equipment. b. buildings. c. land. d. All of these.
Which scenario best illustrates a Gini coefficient equal to one?
a. People earn the same income. b. John receives a wage of $1 per hour. c. The king ends up with all the nation's income. d. There is a one-to-one ratio of income to population. e. 100 percent of the income is held by 100 percent of the population.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. Before specialization, Mexico produces 160 bushels of oranges and 40 bushels of bananas, and Guatemala produces 30 bushels of oranges and 40 bushels of bananas. After specialization, the increase in banana production is
A. 10 bushels of bananas. B. 15 bushels of bananas. C. 20 bushels of bananas. D. 40 bushels of bananas.