Over the past several decades there has been rapid growth in international trade. This growth has been due to all but one of the following factors. Which factor has not contributed to the growth of international trade?
A) the spread of reliable communications
B) an increase in the tariffs charged on many goods
C) a reduction in shipping costs
D) favorable changes in government policies
Answer: B
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Payments to households not in exchange for goods and services currently produced are:
a. transfer payments. b. government purchases. c. consumption expenditures. d. investment expenditures.
Tax collected based on a taxpayer's spending is known as: a. excise tax
b. consumption tax. c. gift tax. d. income tax.
Which of the following practices would indicate that an employer is trying to overcome a moral-hazard problem with his employees?
a. The employer pays his workers wages that are unusually high for the industry and region. b. The employer pays his employees year-end bonuses depending to how well the business does and his observations of the employees' efforts. c. The employer has voluntarily removed video cameras from the factory floor. d. Both A and B are correct.
The market demand curve for labor
A. slopes upward. B. is horizontal at the going wage rate. C. slopes downward. D. is vertical at the existing supply of labor.