Which of the following statements about U.S. international trade in 2013 is CORRECT?
A) The value of U.S. exports exceeded the value of U.S. imports.
B) The value of U.S. exports was about 33 percent of the value of total U.S. production.
C) The United States imported only goods.
D) The United States was the world's largest trader.
D
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If a college education did not increase worker productivity,
a. no one would go to college. b. the earnings of workers with a college education would tend to be the same as for workers without a college degree. c. the earnings of workers with a college education would still be higher than for those without a college degree. d. the earnings of workers with a college education would be lower than for those without a college degree.
Which of the following is TRUE about the effects of an excise tax if consumers are totally unresponsive to price changes?
A) Consumers pay all of the excise tax. B) Producers pay all of the excise tax. C) Consumers and producers share the excise tax equally. D) Neither consumers nor producers pay the excise tax.