If the dollar appreciates against the Mexican peso,
A) U.S. exports to Mexico become less expensive.
B) U.S. exports to Mexico become more expensive.
C) Mexican imports to the U.S. become more expensive.
D) The value of Mexican imports to the United States does not change.
B
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Taking into account the utility of all persons in society is referred to as
A. an utilitarian social welfare function. B. equalizing social welfare function. C. an in-kind transfer. D. a Pareto equilibrium.
Which one of the following is NOT a government failure?
A. The "bridge to nowhere" in Alaska B. The FEMA reaction to Hurricane Katrina C. Allowing federal budget deficits to be financed by foreigners while calling for further tax cuts to help incumbent politicians get reelected D. Water pollution
An entitlement is
A. the payments to the private sector in exchange for goods and services. B. government spending on things like military salaries. C. guaranteed benefits under some government programs. D. another word for a government budget surplus.
One characteristic of a Giffen good is that it
A) is a luxury good. B) is an inferior good. C) has an upward-sloping Engel curve. D) All of the above.