The economic philosophy that favors strict limits on imports and strong support for exports is called
A) zero sum.
B) mercantilism.
C) comparative advantage.
D) absolute advantage.
B
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A decrease in consumption will result in
A) both total utility and marginal utility decreasing. B) total utility increasing, but marginal utility decreasing. C) total utility decreasing, but marginal utility increasing. D) both total utility and marginal utility increasing.
Which of the following statements is true?
A. A person who buys a bond always pays the face value for the bond. B. If a corporation issues a bond and Dennis buys it, Dennis becomes one of the owners of the corporation. C. A stockholder of Firm X is one of the owners of Firm X. D. The owner of the bond receives periodic payments equal to its coupon rate times the price he paid for the bond.
One reason some economists are critical of the Lorenz curve is because
A) it reflects income before taxes. B) it reflects income after taxes. C) it reflects only the top bracket of taxpayers. D) it reflects only the poor in the country.
The amount of currency in the hands of the public is approximately what percentage of M1?
A. 90% B. 30% C. 25% D. 45%