Which of the following puts downward pressure on U.S. manufacturing wages?
A. Rising foreign wages
B. Immigration
C. A declining value of the dollar
D. Technological innovation
Answer: B
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An income statement shows a firm's revenue, costs, and profit
A) since the firm has been in operation. B) for the firm's fiscal year. C) only if the firm is earning an accounting profit. D) for a particular day.
A market transaction causes an externality if someone
a. directly involved in the transaction receives uncompensated benefits or costs from it. b. not directly involved in the transaction receives uncompensated benefits or costs from it. c. directly involved in the transaction seeks legal assistance to ensure that the transaction is carried out. d. not directly involved in the transaction interferes in it by imposing regulations or product standards.
Which of the following is a likely result of a subsidy?
a. An increase in the revenue received by a government b. An increase in the subsidized economic activity c. An increase in equilibrium market price d. An increase in net social welfare
Compare how exports and imports affect consumers and producers in a domestic economy.
What will be an ideal response?