Nontariff barriers
(a) decrease foreign exchange earnings.
(b) reduce the quantity of goods exported.
(c) lower the effective price received for exports.
(d) all of the above.
D
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What is a production possibilities frontier? What do points along the frontier represent? What do points inside and outside the frontier represent?
What will be an ideal response?
Politicians often point to wage differentials as evidence of labor market discrimination against ethnic minorities and women. Economists, however, argue against this approach because
a. they don't believe the wage differential really exists. b. they can't agree on a definition of the term "discrimination." c. they believe compensating differentials account for all wage differences. d. different people may have different wages for reasons unrelated to discrimination.
The relationship in the above figure suggests that when the interest rate is 5 percent
A) a decrease in income will be associated with a decrease in expenditures. B) a decrease in income will be associated with an increase in expenditures. C) an increase in income will be associated with a decrease in expenditures. D) there is no relationship between expenditures and income.
The increased labor force participation rates for women since the 1970s led most directly to ________
A) an increase in labor demand B) a decrease in labor demand C) a decrease in labor supply D) an increase in labor supply