No country can have an absolute advantage in the production of more than one good
a. True
b. False
Indicate whether the statement is true or false
False
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Wikipedia is an example of a:
A. a public good. B. a private good. C. a common resource. D. an artificially scarce resource.
The progressive income tax is a money transfer system—from the taxpayer to government—and it is in the nature of this system that during recessions, less is taken from people than is taken in periods of prosperity. It is in this sense that the progressive income tax system is regarded by economists as
a. an unfair intervention in people's lives b. a countercyclical discretionary force c. a system that is unrelated to government spending d. an automatic stabilizer e. volatile and capricious
Which of the following would tend to increase the value of a future stream of income?
a. an increase in the rate of inflation b. an increase in the interest rate c. a reduction in the interest rate d. a reduction in the size of the expected future income
Sequential games are often used to analyze which two types of business strategies?
A) deciding to end production of an unprofitable product and deciding to shut down temporarily B) deciding to merge with another firm and deciding how much to spend on an advertising campaign C) deterring entry by another firm and bargaining between firms D) whether to invest in research and development and whether to offer employees an early retirement package