Which of the following is an example of monitoring and enforcement costs?
A) Isabel knows that other neighbors' sleep patterns must also be affected by the howling dogs in her neighborhood and sets out to find those neighbors.
B) Isabel is bound and determined to to find out which of her neighbors owns the howling dogs that are preventing her from getting a full night's slee
C
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If the prices would have been much higher ten years ago for the items the average consumer purchased last month, then one can likely conclude that
A) the aggregate price level has declined during this ten-year period. B) the average inflation rate for this ten-year period has been positive. C) the average rate of money growth for this ten-year period has been positive. D) the aggregate price level has risen during this ten-year period.
In the long run, if imports increase, then exports
A) will not change. B) will decrease. C) will also increase. D) will become zero.
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. Which of the following is true?
A. Country B should produce tablets and Country A should produce iPods, and they could benefit from trade. B. Country B should produce iPods and Country A should produce tablets, and they could benefit from trade. C. Neither country can benefit from trade since no comparative advantage exists. D. Because Country B has the absolute advantage in producing tablets, they should specialize in the production of tablets.
Consider GDP calculated according to the expenditures approach. Which of the following components of GDP would need to decrease for GDP to increase?
a. Imports b. Consumption c. Exports d. Investment e. Government spending