If the ratio of the dollar price of a U.S. toy to the dollar price of a Chinese toy is less than one:
A) retailers in the U.S. should buy the toys from both Chinese suppliers and American suppliers.
B) retailers in the U.S. should not buy the toys from both Chinese suppliers and American suppliers.
C) retailers in the U.S. should buy the toys from Chinese suppliers.
D) retailers in the U.S. should buy the toys from American suppliers.
D
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The additional benefit that Marvin gets from being vaccinated against the flu is known as the
A) external benefit. B) marginal private benefit. C) private cost. D) social cost. E) marginal social benefit.
The tax cuts and entitlement program expansions of the 1980s led to such ________ federal deficits in the 1990s that fiscal policy ________ for smoothing-out business cycle fluctuations
A) small, again became the preferred tool B) small, was all but abandoned C) large, again became the preferred tool D) large, was all but abandoned