Over the past 50 years in the United States, tax revenues as a percentage of GDP have tended to be in the __________________ percent range

If banks face a problem in loan markets when bad credit risks are the ones most likely to seek bank loans, it is described as

A) moral hazard. B) moral suasion. C) adverse selection. D) fraud.

Suppose Brazil has an absolute advantage over other countries in producing almonds, but other countries have a comparative advantage over Brazil in producing almonds. If trade in almonds is allowed, Brazil

a. will import almonds. b. will export almonds. c. will either import almonds or export almonds, but it is not clear from the given information. d. would have nothing to gain either from exporting or importing almonds.