Which of the following has not been a major factor contributing to the high productivity of labor in the United States?
A. High wage rates
B. Technological advancement
C. Education and training of workers
D. High levels of capital investment
A. High wage rates
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The Volumetric Ethanol Excise Tax Credit (VEETC) is a tax credit (which acts like a subsidy) for registered ethanol-gasoline blenders. Qualified blenders receive $0.51 for each gallon of pure ethanol they blend into gasoline
What statement is TRUE? A) With a subsidy, the price paid by consumers will be lower than without a subsidy. B) Without a subsidy, the quantity produced by blenders will be greater than the quantity demanded. C) With a subsidy, the equilibrium quantity produced will be lower than without a subsidy. D) With a subsidy, production will be efficient.
If an Albanian company hires a U.S.-based law firm, it is
A) insourcing, from a U.S.-perspective. B) using domestic outsourcing. C) changing into a multinational enterprise. D) vertically integrating.
An increase in the cost of training to acquire a skill, which must be paid by the worker,
a. increases both the supply of and demand for labor in that market b. decreases both the supply of and demand for labor in that market c. increases the supply of labor and decreases the demand for labor in that market d. decreases the supply of labor and increases the demand for labor in that market e. decreases the supply of labor only in that market
Which of the following summarizes the transactions involving the international exchange of goods and services, transfers, military transactions, and other miscellaneous transactions?
A. Capital account B. Balance of trade C. Statistical discrepancy D. Current account