The U.S. both imports and exports significant quantities of
A. transportation equipment.
B. computer and electronic products.
C. petroleum and coal products.
D. all of these.
Answer: D
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Rational slave owners had economic incentive to adequately clothe, feed and care for their slaves
Indicate whether the statement is true or false
Compared to free trade, a ban on imports of a good
A) increases the domestic price of the good. B) decreases consumer surplus. C) results in a deadweight loss. D) All of the above.
The intertemporal substitution hypothesis suggests that hours of work should
A. be greatest during peak wage years. B. steadily decrease with age. C. increase immediately prior to retirement. D. steadily increase with age. E. be greater for women than for men.
Explain how the introduction of an additional competitive market can always solve the efficiency problem that emerges from a positive externality.
What will be an ideal response?