We see that the Netherlands, Belgium, and Ireland trade considerably more with the United States than with many other countries
A) This is explained by the gravity model, since these are all large countries.
B) This is explained by the gravity model, since these are all small countries.
C) This fails to be consistent with the gravity model, since these are small countries.
D) This fails to be consistent with the gravity model, since these are large countries.
E) This is explained by the gravity model, since they do not share borders.
C
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The table above shows the marginal costs and marginal benefits of college education. The marginal private cost of college education at the efficient quantity of enrollment is
A) $8,000 per year. B) $12,000 per year. C) $14,000 per year. D) $16,000 per year.
From an initial long-run equilibrium, if aggregate demand grows faster than long-run and short-run aggregate supply, then Congress and the president would most likely
A) decrease tax rates. B) decrease government spending. C) decrease the required reserve ratio. D) decrease oil prices.