Applying economic principles to the analysis of political decision making is political economy.
A. True
B. False
C. Uncertain
A. True
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Who would be least inclined to engage in "feel good" foreign projects, which contribute minimal benefits to the poor but look impressive to outside observers?
A) Private investors B) Foreign governments C) International aid agencies D) The World Bank
Exports are goods and services that are produced:
A. in other countries and consumed domestically. B. domestically and consumed in other countries. C. and consumed in other countries. D. and consumers domestically.
Economists use ____ economics to understand how the economy works. They use ____ economics to choose from among several economic policies
a. statistical; circular flow b. macro; micro c. micro; macro d. positive; normative e. normative; positive
Some firms eventually experience problems with their capacity to produce output as their output levels increase. For these firms,
a. market power is substantial. b. supply is perfectly inelastic. c. supply is more elastic at low levels of output and less elastic at high levels of output. d. supply is less elastic at low levels of output and more elastic at high levels of output.