A trade deficit occurs when:
a. a country imposes a price floor on the good in which it has a comparative advantage.
b. a country's imports exceed its exports.
c. a country imposes a price ceiling on the good in which it has a comparative advantage.
d. a country's exports exceed its imports.
e. the domestic product market is in disequilibrium.
b
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Refer to Table 18-2. The table above lists three policy alternatives that the U.S. Senate will vote on, along with the ranking of these alternates
The Senate must decide which of these alternatives should receive an additional $1 billion of funding, and there is enough money in the federal budget for only one of these alternatives. If a series of votes is taken in which each pair of alternatives is considered (homeland security and education; homeland security and medical research; education and medical research) which of the following will result from these votes? A) The results will illustrate the voting paradox. B) When the vote is between homeland security and education, the Senators will vote for education to receive funding. C) The results from the voting will illustrate the median voter theorem. D) The Senators' votes will demonstrate transitivity.
The U.S. federal government collects about one-half of the taxes in our economy
a. True b. False Indicate whether the statement is true or false