An example of a(n) ________ comparative advantage is that some U.S. consumers prefer German beer over American beer because German beer has a reputation for tasting better.
A. unwarranted
B. acquired
C. subsidized
D. natural
Answer: B
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The cross-price elasticity of demand between butter and margarine is most likely
a. positive, since the goods are substitutes b. positive, since the goods are complements c. negative, since the goods are complements d. negative, since the goods are substitutes e. zero, since the goods are both normal
Government assistance to the poor in the United States
A. has eliminated poverty in the nation. B. is available to all persons whose income is below the poverty income threshold. C. is available in most cases only to the poor who are elderly, disabled, or families with children. D. is always in the form of cash.
Based on the information in the table, what is the unemployment rate? Population 16 and older1,000,000Participation Rate80%Employed Workers720,000
A. 7.2 percent B. 28.0 percent C. 8.0 percent D. 10.0 percent
Over the past decade, a nation's real Gross Domestic Product (GDP) grew at a constant rate of 9 percent per year while its population grew 8 percent annually. Forecasters predict that during the coming decade, real GDP will continue to grow 10 percent annually, but the population growth rate is expected to drop to 7 percent annually. If the forecasters are correct, which of the following will be TRUE?
A. The annual rate of growth of per capita real GDP will increase from 1 percent to 3 percent. B. The annual rate of growth of per capita real GDP will decline from 2 percent to 1 percent. C. The annual rate of growth of per capita real GDP will increase from 1 percent to 8 percent. D. The annual rate of growth of per capita real GDP will decline from 3 percent to 2 percent.