Use the figure below to answer the following question.
By how much does Producer Surplus decrease after the tax is imposed?
A. $114
B. $162
C. $38
D. $62
Answer: C
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If a country possesses the absolute advantage in the production of one good:
A. then it must also possess the absolute advantage in the production of the other good. B. then it must also possess the comparative advantage in the production of both goods. C. then it must also possess the comparative advantage in the production of the other good. D. it can produce more of that good given the same resources.
Which of the following is true with regard to economic growth?
a. Real GDP could grow in a society at the same time that real per capita GDP did not b. For a given population, real GDP growth implies real per capital GDP growth. c. If the population grew at the same rate as real GDP, real per capita GDP would not change. d. All of the above are true.
Which of the following groups would be most adversely affected by food aid?
a. Manufacturers in the country providing aid b. Government in the country providing aid c. Government in the country receiving aid d. Citizens in the country providing aid e. Farmers in the country receiving aid
Corporate ownership in Asia is characterized by:
a. strong minority shareholder rights b. widely held ownership c. IPOs d. Hostile takeovers e. family ownership