Reference no: EM13892097
1.Whether a tax is shifted forward or backward depends on the price elasticities of demand and supply.
True or False
2. The effect of a tax is the same thing as the incidence of the tax.
True or False
3. If the cost of collecting a tax is low relative to the revenue generated, the tax is said to be economical.
True or False
4. If trade between the United States and Canada were totally free of restrictions, the incomes of most Canadian workers would decrease.
True or False
5. The most-favored-nation clause was created in the
a. Trade Expansion Act of 1962
b. Marshall Plan
c. Reciprocal Trade Agreements Act of 1934
d. Canadian-American Trade Act
6. CAFTA is an organization comprised of six South American countries.
True or False
7. The principle of comparative advantage is associated with
a. restricting consumer choices
b. greater production at higher prices
c. specialization and exchange
d. comparing the efficiency of alternative tariffs
8. In dollar value, the United States is the largest importer in the world
True or False
9. The only factor determining whether a country can develop a comparative advantage in production is the degree to which it has a highly skilled labor force.
True or False
10.The Byrd Amendment seeks to penalize foreign exporters who dump products into the United States.
True or False
|
Unemployed but actively seeking work
: Suppose an economy consists of 300,000 individuals 16 years and older, 160,000 are employed, and 18,000 are unemployed but actively seeking work. In this example the labor force is:
|
|
What is the situation in the area of trade
: What is the situation in the area of trade (use a dollar amount)? What do keakages equal (measured in dollars)?
|
|
Produce grapes at lower opportunity cost
: If France can produce grapes at a lower opportunity cost than any other nation, France is said to have a/n ____________in the production of grapes.
|
|
How many people can be catagorized frictionally unemployed
: How many people can be catagorized as frictionally unemployed? How many people can be categorized as structurally unemployed? How many people are not in the labor force? What is the unemployment rate? What is the natural rate of unemployment?
|
|
Effect of a tax is the same thing as the incidence of tax
: Whether a tax is shifted forward or backward depends on the price elasticities of demand and supply. The effect of a tax is the same thing as the incidence of the tax. The principle of comparative advantage is associated with
|
|
Equilibrium value of output person-Solow growth model
: The (steady state) equilibrium value of output per person in the Solow growth model (Chapter 5) is given by y∗ = A¯^3/2(s¯/d¯)^1/2 (1). Why do you think the technological parameter A¯ enters with a deferent exponent in the equations? Or equivalentl..
|
|
Coefficient of variation for the income distributions
: Draw Lorenz curves and calculate the Gini coefficient and the coefficient of variation for the income distributions (a)–(f). In each situation, the first set of numbers represents the various incomes, whereas the second set of numbers represents the ..
|
|
The kuznets ratios satisfy the dalton transfer principle
: The Kuznets ratios satisfy the Dalton transfer principle. If the Lorenz curves of two situations do not cross, the Gini coefficient and the coefficient of variation cannot disagree. If a relatively poor person loses income to a relatively rich person..
|
|
Fixed cost-variable cost-marginal cost
: Suppose a firm's Total Cost Function is: Identify: Fixed Cost, Variable Cost, Marginal Cost, Average Fixed Cost
|