Which of the following would be likely to change the relative efficiency of trucks versus trains in carrying freight?
A) Higher wages for truck drivers
B) More powerful locomotives
C) Tolls on interstate highways
D) All of the above.
D
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If, for the United States, exports are $450, imports are $320, net income from foreign investments is -$60, and net transfers from abroad is -$50, then the U.S. current account has a
A) deficit of $430. B) deficit of $110. C) surplus of $20. D) surplus of $130.
The Clinton administration has recommended an increase in the tax on yachts to help pay for government programs. Which of the following is true?
A) The burden of this tax will fall entirely on yacht consumers. B) The burden of this tax will fall entirely on yacht manufacturers. C) The sales of yachts will decrease. D) The profit of yacht manufacturers will increase. E) Employment of workers in the yacht industry will increase.