Advertising provides consumers with product information and can promote competition. Thus, it is always welfare enhancing.
Answer the following statement true (T) or false (F)
False
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U.S. imports and exports both fell during the first quarter of 2009. The value of these imports and exports would be reflected in the United States
A) capital account. B) current account. C) exchange rate account. D) financial account.
Since countries differ in the amount of economic activity that is transacted in organized markets,
A. some countries are more productive than others. B. persons live better in some countries than others. C. international comparisons of per capita GDP are often misleading. D. comparisons between countries are totally impossible.
If nominal GDP = $900 billion and the public holds $300 billion in M2, then the velocity of the M2 money supply is
A) 1. B) 2. C) 3. D) 4.
Suppose a policy change will generate $100,000 of benefits for low-income families and $120,000 of costs for high-income families. This change can best be described as
A. Pareto efficient. B. equitable. C. potentially efficient. D. inefficient.