The specific factors model assumes that there are ________ goods and ________ factor(s) of production

The quantity of a public good supplied by a private market is

A) smaller than the efficient quantity. B) equal to the efficient quantity. C) larger than the efficient quantity. D) the quantity that maximizes total public benefit.

Which of the following is NOT a deficit item on the international accounts balance sheet for a country?

A) imports of merchandise B) military spending abroad C) purchases of foreign currency D) exports of merchandise