Trade will be beneficial for a nation with a comparative advantage in producing a certain product.
Answer the following statement true (T) or false (F)
True
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Positive economic statements
A) prescribe what should be. B) are related only to microeconomics. C) can be tested against the facts. D) cannot be tested against the facts.
A justification for general grants is _____
a. the equalization of revenues between government units with different income levels b. higher level governments might have a greater ability to raise revenue c. progressive taxation cannot be done on the local level d. a and b
Which of the following would increase the demand for union labor?
A) increasing worker productivity B) increasing the demand for union made goods C) decreasing the demand for non-union-manufactured goods D) all of the above
Which of the following would most likely be an example of market failure?
a. industrial water pollution b. eBay transactions c. tradable pollution permits d. brokers re-selling tickets for concerts