Government payments made to ________ firms in order to encourage ________ are called subsidies.
A. domestic; exports
B. domestic; imports
C. foreign; imports
D. foreign; immigration
Answer: A
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Health insurance companies often charge high premiums because ________
A) they expect to attract high-risk individuals B) they expect to attract risk-averse individuals C) they expect to attract low-income individuals D) they expect to attract risk-neutral individuals
The official statistics on working poverty do not distinguish paid workers from individuals who are self-employed
Indicate whether the statement is true or false
Which one of the following is the most accurate definition of economics?
a. Economics is the study of stocks and bonds. b. Economics is the study of how people allocate unlimited resources. c. Economics is the study of how consumers choose to spend their income. d. Economics is the study of how society chooses to allocate scarce resources.
The motive for the erecting trade barriers to import goods and services from abroad is to
A. improve economic efficiency in that nation. B. protect and benefit special interest groups in that nation. C. reduce the prices of the goods and services produced in that nation. D. expand the export of goods and services to foreign nations.