________ involves a country selling its exports at a price lower than its cost of production.
A. An export quota
B. Having an absolute advantage
C. Dumping
D. Having a comparative advantage
Answer: C
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If the government increases the corporate income tax,
A) the user cost of capital declines and V* increases. B) the user cost of capital declines and V* decreases. C) the user cost of capital increases and V* decreases. D) the user cost of capital increases and V* increases.
If the MPC = 0.75, MPS must be _______ and the income multiplier is _______
a. 0.25; 4 b. 0.25; 5 c. 0.75; 5 d. 1.50; 5 e. 4; 0.25
When comparisons are made between the earnings of whites and minorities with the same age, quantity of schooling, marital status, sector of employment, union and industry status, regional location, and annual hours worked, recent studies indicate that
a. the corrected earnings of minority men are about two-thirds the earnings of white men. b. the corrected earnings of Mexican-Americans, Asian-Americans, and American Indians were between 7 and 9 percent less than the earnings of similar white men. c. earnings differentials between whites and minorities are due almost exclusively to employment discrimination. d. most minority men now have higher earnings than white men.
Assume that Japan and South Korea have flexible exchange rates. Other things equal, if economic growth is more rapid in Japan than in South Korea:
A. gold bullion will flow out of Japan. B. the Japanese yen will depreciate. C. the South Korean won will depreciate. D. the yen and won exchange rate will stay constant.