A ________ is nonrival in consumption and listeners are nonexcludable.
A. lecture in your college's auditorium
B. satellite radio signal
C. concert at a local indoor arena
D. radio signal broadcast through the air
Answer: D
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Why are a large number of IT jobs being outsourced to China and India?
a. India and China experience large balance of payment deficits. b. India and China are highly capital intensive economies. c. India and China have abundant supply of cheap skilled labor. d. India and China offers the best working conditions for the employees. e. India and China experiences balance of payment surpluses.
According to the textbook, the evidence indicates that NAFTA has:
A. stopped illegal immigration from Mexico. B. reduced the wages of skilled workers in the United States. C. not significantly reduced the employment of unskilled workers in the United States. D. reduced the employment of unskilled workers in the United States significantly.
Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of berries each day, and Jim can either catch 8 fish or gather 24 pounds of berries each day. Both of them work 200 days per year. At current world prices 1 fish trades for 3.5 pounds of berries. In a closed economy, if the citizens of this island consume 1,200 fish per year, how many pounds of berries can they consume?
A. 12,800 pounds B. 4,800 pounds C. 9,200 pounds D. 8,000 pounds
If total income remains the same but profits fall and real wages rise, the aggregate demand curve will most likely:
A. become flatter. B. become steeper. C. shift to the left. D. shift to the right.