Question 61 os A country will not trade unless It has an absolute advantage. The terms of trade are superior to

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Question 61 os A country will not trade unless It has an absolute advantage. The terms of trade are superior to domestic opportunities. Its balance of trade is in a surplus position. The production possibilities increase. Question 62 OS If the government reduced marginal tax rates on Social Security receipts to zero, All retirees would receive full benefits. Output from older workers would decrease. The financial cost of the program would decrease. Payroll taxes for the program would decrease. Question 63 S us In 2010 the largest U.S. cash transfer program was Food stamps. Social Security Medicaid. TANE deos Sdve us response. Question 64 Which of the following programs is likely to have low target efficiency? An insurance card that allows the elderly to obtain health care. A cash payment directly to the landlord to offset the cost of housing for certain individuals. Food stamps that can only be used for food, A cash payment that the recipient is encouraged to use for housing,

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1. Option B The theory of comparative advantage explains that countries trade when they have different comparative advantages. It shows that the gains from international trade result from pursuing comparative advantage and producing at a lower opportunity cost. 2.Option A With tax rates reduced to zero thecretirees will receive full amount without any tax deductions. 3.Option B Social Security is the largest US federal government program. Social Security is the single largest mandatory spending item of US government. 4.Option D Such program may have low efficiency as the person may use cash for some other benefit instead for housing purpose.

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Question 61 os A country will not trade unless It has an absolute advantage

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