If the government's spending exactly equals its revenues during a budget year, that government is

Suppose that land is specific to agriculture, capital is specific to manufacturing, and labor is mobile between sectors. According to the specificfactors model, if this country begins importing manufactured goods, which factor will experience the highest unemployment?

a. Labor b. Capital c. Land d. No factors will experience unemployment.

For a common resource, the marginal private cost of the resource is equal to the marginal social cost

Indicate whether the statement is true or false