Which of the following statements is true?
A) If the domestic price of a good in a country is lower than the world price, the country will become an exporter of the good.
B) Whether a country becomes an importer or an exporter of a good depends only on the domestic price of the good and is independent of the world price of the good.
C) If the domestic price of a good in a country is lower than the world price, the country will become an importer of the good.
D) Whether a country becomes an importer or an exporter of a good depends only on the world price of the good and is independent of the domestic price of the good.
A
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Some economists have argued that certain characteristics of the delivery of health care justify government intervention. One of these characteristics is
A) health care is nonrivalrous and nonexcludable. B) health care generates negative externalities. C) health care is a public good. D) health care generates positive externalities.
In economic theory, an unemployment rate of _________ considered desirable
a. 5 percent or less b. 9 to 10 percent c. Under 12 percent d. 18 percent