One signal that the U.S. dollar was overvalued in the early 1970s was the
a. stable price of gold.
b. volume of international trade.
c. recurring balance-of-trade deficits in the U.S.
d. recurring balance-of-trade deficits in European countries.
c. recurring balance-of-trade deficits in the U.S.
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Suppose that the government of New York state promises to decrease taxes to a firm if it decides to stay in New York instead of moving to another state. This policy on the part of the state constitutes ________, to make the ________ of the firm remaining in New York.
A) an incentive; marginal benefit exceed the marginal cost B) an incentive; marginal cost exceed the marginal benefit C) a command; marginal benefit exceed the marginal cost D) a command; marginal cost exceed the marginal benefit
A country's economic welfare most directly depends on
A. what it can produce. B. what its citizens can consume. C. how many goods and services it exports. D. how many goods and services it imports.