Foreign outsourcing refers to the
a. exporting of domestic jobs.
b. exporting of domestic goods.
c. selling of Treasury bonds to foreigners.
d. importing of oil from U.S. companies abroad.
a. exporting of domestic jobs.
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The price of a smartphone increased from $350 to $400 while the price of a smartphone app increased from $1 to $2. The relative price of smartphones in terms of smartphone apps
A) increased from 200 to 350. B) decreased from 350 to 200. C) increased from 0.003 to 0.05. D) decreased from 0.35 to 0.2.
Exhibit 5-8 GDP data (billions of dollars) Personal consumption expenditures$850 Interest90 Corporate profits150 Government spending400 Depreciation100 Rental income70 Gross private domestic investment120 Compensation of employees830 Exports120 Imports70 Indirect business taxes80 Proprietors' income120 Personal income taxes110 Social Security taxes50 Transfer payments160 In Exhibit 5-8, and using the expenditures approach, gross domestic product (GDP) equals:
A. $1,420 billion. B. $2,460 billion. C. $2,430 billion. D. $1,450 billion.
In comparing the changes in TC and TVC associated with an additional unit of output, we find that:
A. the change in TVC is equal to MC, while the change in TC is equal to TFC. B. the change in TC exceeds the change in TVC. C. the change in TVC exceeds the change in TC. D. both TC and TVC are equal to MC.
Which of the following is an example of positive technological change?
A) A firm conducts a new advertising campaign. As a result, the demand for the firm's surf boards increases. B) A firm buys an additional machine that it uses to make surf boards. As a result, the firm is able to increase its weekly production of surf boards. C) A firm offers workers a higher wage to work on weekends and at night. As a result, the firm is able to increase its weekly production of surf boards. D) A firm's workers participate in a training program designed to increase the number of surf boards they can produce per day.