Tijuana, Mexico is across the border from San Diego, California
It has become a world-leading producer and exporter of television sets and computer monitors, which it assembles in modern factories owned by multinational consumer electronics firms such as Sony. Initially, these electronics were produced in the industrialized countries of their parent companies, and after several years, the production moved to Tiajuana. This is an example of A) the product cycle.
B) intraindustry trade.
C) the specific factors model.
D) the magnification effect.
E) None of the above.
A
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If the absolute price elasticity of demand is equal to 1 in the short run, then in the long run, other things being equal, the absolute price elasticity of demand will be
A) less than one. B) less than zero. C) greater than one. D) equal to zero.
Sarah used to be a music teacher at a local school, but got let go last year due to budget cuts. Sarah now works part-time as a waitress while looking for another teaching job. Sarah would be considered:
A. frictionally unemployed. B. underemployed. C. structurally unemployed. D. real-wage unemployed.
Over the last 100 years or so, the U.S. economy has grown annually at an average rate of:
A. 1 %. B. 2 %. C. 3 %. D. 4 %.
Increasing GDP generally causes increases in problems of waste disposal
a. True b. False Indicate whether the statement is true or false