_____________ advantage can be the result of a country’s natural endowment.
a. Absolute
b. Real
c. Focused
d. Micro
a. Absolute
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For corporate taxes, the lowest tax bracket is
A. 9 percent. B. 12 percent. C. 15 percent. D. 22 percent.
If all decisions makers had rational expectations and their expectations were correct, would the Phillips curve be vertical or horizontal in the short-run? Explain why
Medicare and Social Security are examples of
A. a free market system. B. public goods. C. programs that do not respond to rational economic incentives. D. transfer payments.
Refer to the information provided in Table 20.5 below to answer the question(s) that follow. Cashews are measured in bushels and tea is measured in pounds (lbs.)
Table 20.5
Refer to Table 20.5. Which terms of trade benefits both countries?
A. 1 lb. of tea for 8 bushels of cashews B. 1 bushel of cashews for 4 lbs. of tea C. 1 lb. of tea for 10 bushels of cashews D. 1 bushel of cashews for 6 lbs. of tea