The fact that articles of clothing sold in Walmart are produced by very poorly paid workers in Honduras, is a fact that if taken into account
A) would prove to economists that the Ricardian model of comparative advantage is false.
B) would prove to economists that the equal-value in trade concept summed up in the trade triangles is incorrect.
C) proves to economists that trade is a negative sum game.
D) proves to the Anti-Globalization Movement that trade is a negative sum game.
E) proves that corporations are exempt from labor standards.
D
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Which approach to measuring money focuses on the value of currency, transaction deposits, and travelers checks?
A) near moneys B) the liquidity approach C) M2 D) the transactions approach
Production efficiency means that
A) scarcity is no longer a problem. B) producing more of one good is possible only if the production of some other good is decreased. C) as few resources as possible are being used in production. D) producing another unit of the good has no opportunity cost.
According to economists, "money" means the same thing as "wealth"
a. True b. False Indicate whether the statement is true or false
The crowding of certain ethnic or racial groups into specific occupations results in:
A. Lower wages, and a less efficient allocation of resources B. Lower wages, but a more efficient allocation of resources C. Lower wages, but no effect on the efficient allocation of resources D. Higher wages and a more efficient allocation of labor resources