In the specific factors model, which of the following will increase the quantity of labor used in food production?
A) an increase in the price of food relative to that of cloth
B) an increase in the price of cloth relative to that of food
C) a decrease in the price of labor
D) an equal percentage decrease in the price of food and cloth
E) an equal percentage increase in the price of food and cloth
A
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In the United States, the primary standards established for identified criteria pollutants
a. are known as the NESHAP b. are applicable only to mobile sources c. are intended to protect public welfare d. are motivated solely by expected benefits with no consideration for economic feasibility
The multiplier effect refers to the series of
A) induced increases in consumption spending that result from an initial increase in autonomous expenditures. B) autonomous increases in consumption spending that result from an initial increase in induced expenditures. C) induced increases in investment spending that result from an initial increase in autonomous expenditures. D) autonomous increases in investment spending that result from an initial increase in induced expenditures.
Inflation occurs when:
a. The prices of all goods and services rise by the same percent during a given period of time. b. There is a sustained increase in the average price level. c. There is an increase in the price level of raw materials. d. The contraction of the monetary base leads to a decrease in the average price level.
Shared understandings about how states will behave on a particular issue are known as
a. international regimes. b. natural laws. c. social identities. d. enforcement mechanisms.