An import ban results in
A) an increase in the product's price.
B) a decrease in the quantity of the product bought and sold.
C) a decrease in the supply of the product.
D) all of the above.
D
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The Equal Pay Act of 1963 requires that men and women be given equal pay for equal work in the same establishment
Most people agree that gender discrimination in the workplace is unfair, but many economists have criticized advocates of comparable worth. Is paying the same wages for jobs that have comparable worth mandated by the Equal Pay Act? Why don't most economists support proposals to force employers to pay their male and female employees based on comparable worth rules?
How does value of marginal product (VMP) of labor determine the number of workers a competitive firm will hire?
For a major country with extensive capital flows, what is the effect of an increase in interest rates?
a. There will be an inflow of capital, a currency depreciation, and increased net exports. b. There will be an inflow of capital, a currency depreciation, and reduced net exports. c. There will be an outflow of capital, a currency depreciation, and increased net exports. d. There will be an inflow of capital, a currency appreciation, and reduced net exports.
Answer the following statement(s) true (T) or false (F)
1. International trade is more important in some countries than it is in others. 2. Transportation is among the leading U.S. export sectors. 3. U.S. exports and imports have been declining since the mid-twentieth century. 4. Most of the early international trading partners of the United States were5. Neither Canada nor Mexico is among the leading U.S. international trading partners. in Europe.