The basic idea behind the 1996 and 1997 welfare changes was to make welfare an entitlement
Indicate whether the statement is true or false
F
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Suppose the exchange rate between the U.S. dollar and the Jamaican dollar was $1 U.S. = $40 Jamaican dollars. A beach towel sells for $20 in Miami and $60 Jamaican in Negril
A) Purchasing power parity does not prevail with these prices. B) The U.S. dollar would be expected to depreciate. C) The Jamaican dollar would be expected to appreciate. D) All of the above are correct.
The effect of a tariff
A) is negligible since it applies to firms outside the U.S. B) can lead to economies of scale for firms inside the U.S. C) can lead to a monopoly advantage for firms inside the U.S. since they become the sole suppliers inside the U.S. D) will be more beneficial to large firms than to small firms.
The self-interest assumption is central to the analysis of behavior in both private and public sectors
a. True b. False Indicate whether the statement is true or false
The economic gains from expanding international trade are measured in hundreds of billions of dollars.
Select whether the statement is true or false. A. True B. False