Which of the following is a surplus item in the U.S. current account?
A) The U.S. government reduces the tariff rates on some imported goods.
B) IBM pays dividends to British shareholders.
C) Finn vodka becomes more popular in the United States.
D) The U.S. government cuts back on military personnel stationed in S. Korea.
Answer: D
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In the above figure, when the firm produces output corresponding to point c, the firm's marginal cost
A) is less than its marginal revenue. B) equals its marginal revenue. C) exceeds its marginal revenue. D) equals its average revenue.
Which of the following is false?
A) International differences in tastes, if sufficiently large, could overturn the comparative advantage predictions of the HO model. B) The classical and HO models make similar assumptions about international differences in technology. C) The HO model predicts that some groups will be hurt by international trade. D) Both the classical and the HO models predict that countries gain from international trade.
Which of the following statements best represents the principle represented by the adage, "There is no such thing as a free lunch"?
a. Michelle can attend the concert only if she takes her sister with her. b. Michael is hungry and homeless. c. Andrea must repair the tire on her bike before she can ride it to class. d. Dani must decide between going to Florida or Brazil for spring break.
Between 1994 and 2009, the number of welfare recipients in the U.S.:
a. fell by 71%. b. rose by 71%. c. fell by 18%. d. rose by 66%.