During 2009, General Motors announced that it would close its Saturn facilities in the United States because of the foreign competition it faced. This corporate move
A) increased structural unemployment.
B) increased avoidable unemployment.
C) increased cyclical unemployment.
D) had no impact on unemployment.
E) decreased frictional unemployment.
A
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In the United States since 1960, the average unemployment rate was highest during the decade of the
A) 1980s. B) 1990s. C) 1960s. D) 1970s. E) 2000s.
In the real world we don't observe countries completely specializing in the production of goods for which they have a comparative advantage. All of the following are reasons for this except
A) some countries have more resources than other countries. B) tastes for many traded goods are different in many countries because of globalization. C) production of most goods involves increasing opportunity costs. D) not all goods and services are traded internationally.
Which of the following would indicate that an income tax is progressive?
a. high-income people pay $3,000 . low-income people pay $1,000 b. low-income people pay $3,000 . high-income people pay $1,000 c. high-income and low-income people all pay $1000 each d. high-income people pay 20 percent of their income in taxes; low-income people pay 10 percent e. both high-income and low-income people pay 10 percent of their income in taxes
If the cost of a typical basket of goods in the U.S. is $100 and in Mexico it is 800 pesos, and the nominal exchange rate is 25 pesos per dollar, what is the real exchange rate?
A. 0.33. B. 1.33. C. 1.50. D. 3.13.