Actions based on the more general Pareto criteria are preferable to actions based on application of interpersonal utility calculations
a. True b. False
a
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When the U.S. current account has a deficit, international payments from the United States ________ U.S. international receipts
To cover the current account deficit, there must be a ________ in the combined capital and financial account and official settlements account. A) equal; surplus B) are less than; deficit C) exceed; surplus D) are less than; surplus E) exceed; deficit
The figure above shows Clara's demand for CDs. At a price of $20 for a CD, the value of Clara's total consumer surplus for all the CDs she buys is
A) $40. B) $30. C) $20. D) $4.
Estimates by economists of the natural rate of unemployment in the U.S. economy in the early 2000s run at about
a. 3.5% to 4.5%. b. 4.5% to 5.5%. c. 5.5% to 6.5%. d. 6.5% to 7.5%.
Which of the following is most important if a country is going to grow rapidly and achieve a high level of per capita income?
a. an abundance of natural resources b. a warm moist climate c. a small population relative to the geographic size of the country d. institutions and policies that encourage people to engage in productive activities