Use the above table. What will the price be before external costs are internalized with a tax?

A. $14
B. $12.20
C. $1.80
D. $13

Answer: D

Economics

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When one applies the Heckscher-Ohlin model of trade to the issue of trade-related income redistributions, one must conclude that North South trade, such as U.S.-Mexico trade,

A) must help low skill workers on both sides of the border. B) is likely to hurt high-skilled workers in the U.S. C) is likely to involve higher overall national economic gains that will be greater than any harm done to low-skilled workers in the U.S. D) is likely to hurt low-skilled workers in Mexico. E) gives no advantage to the workers in either country.

Economics

Which of the following people would be considered employed in the Census Bureau's Household Survey?

a. A homemaker working 20 hours cleaning her house b. A person paid to work 2 hours per week cleaning houses c. A child shoveling neighbors' driveways for money d. A person volunteering full-time at a local hospital e. A laid-off carpenter looking for a job

Economics