Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a society moving from PPF3 to PPF1?
A. A tornado
B. More workers
C. A desire to read lessbooks
D. Better sewing technology
A. A tornado
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Gross national product, GNP, of the United States is the market value of all final goods and services
A) consumed by citizens of the United States anywhere in the world. B) consumed within the United States. C) produced within the United States. D) produced by citizens of the United States anywhere in the world.
To incentivize a salaried manager at a company store to work harder, the management should
a. Offer the manager the franchise b. Offer the manager a raise c. Centralize all decision-making d. None of the above
The possibility that someone can reap the benefits of being a free rider occurs
a. when negative externalities exist in the market b. only when the market is in equilibrium c. when positive externalities exist in the market d. only if government is willing to subsidize the market e. only if government actually produces the good, such as a highway
If the dollar were to increase relative to the currencies of our major trading partners, our trade deficit would tend to ______________.
Fill in the blank(s) with the appropriate word(s).