Which of the following is NOT a situation providing a potential advantage for Mexico that makes it competitive compared to China in trade with the United States?
A) The product line requires quick turn-around time from or to delivery.
B) The need to manage a just-in-time inventory system
C) Wages are low and the production process is labor intensive.
D) The product is heavy and bulky relative to its final value.
C
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A change in the price level brings a ________ the aggregate supply curve, NOT a ________ the aggregate supply curve
A) vertical displacement of; change in the slope of B) change in the slope of; horizontal displacement of C) shift in; change in the slope of D) movement along; shift in E) shift in; movement along
A currency system in which exchange rates are determined in free markets is called a
A) gold standard. B) flexible exchange rate system. C) fixed exchange rate system. D) all of the above
Dividing the value of real GDP by aggregate labor hours gives
A) the net domestic product. B) labor productivity. C) the size of the labor force. D) the rate of capital accumulation.
Everything else held constant, an increase in currency holdings will cause
A) the money supply to rise. B) the money supply to remain constant. C) the money supply to fall. D) checkable deposits to rise.