Refer to the table above. If each country were to reduce production of its comparative disadvantage good by 1 unit, world output of wine would rise by

Compared to a direct cash transfer payment of an identical amount, food stamps make individuals who desire less food than the value of the food stamps _____

a. better off b. worse off c. indifferent between food and all other goods d. prefer food too all other goods on the margin

Macroeconomics is best defined by which of the following statements?

A) Macroeconomics is the study of how firms attempt to maximize profits. B) Macroeconomics is the study of the behavior of the economy as a whole. C) Macroeconomics is the study of individual households. D) Macroeconomics is the study of how the prices of individual goods are determined.