Since 1980, developing countries have turned increasingly toward emphasizing
A. exports of less-skilled-labor-intensive manufactured goods.
B. exports of less-skilled-labor-intensive primary goods.
C. imports of less-skilled-labor-intensive manufactured goods.
D. imports of less-skilled-labor-intensive agriculture goods.
Answer: A
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Use the following graph of the demand for noodles to answer the question below.
Refer to the three demand curves for noodles. Which of the following would shift the demand for noodles from D1 to D2?
A. an increase in the number of buyers of noodles B. People hear that eating noodles can have negative health effects. C. a decrease in the price of noodles D. a decrease in the number of buyers of noodles
In the above figure, at the price level of 140 and real GDP of
A) $15 trillion, firms will not be able to sell all their output. B) $5 trillion, firms will not be able to sell all their output. C) $5 trillion, consumers will not be able to buy all the goods and services they demand. D) $15 trillion, consumers will not be able to buy all the goods and services they demand.
Suppose that a lawn mowing services production function for lawns mowed in a week is M = (LK)1/2, where L is labor hours and K is the amount of capital (mowers and trimmers). The expansion path depends on
a. the wage rate only. b. the rental rate only. c. both the wage and rental rates. d. neither the wage nor rental rates.
An activity is productive if it
What will be an ideal response?