Consider the two graphs above. Suppose that the domestic currency is expected to strengthen. This would ________ the desired level of the capital stock, as depicted in graph ________
A) increase; B
B) increase; A
C) decrease; B
D) decrease; A
D
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Suppose that the local health board discovers some unsanitary conditions at your favorite sushi restaurant. An economist would likely have what to say about this situation?
A) "All unsanitary conditions at this restaurant must be eliminated." B) "The restaurant owner obviously cares more about profits than about his customers." C) "No one should eat at this restaurant due to the potential health hazard." D) "Eliminating all of the unsanitary conditions might cost more than the value of the benefits that would be gained."
If people are self-interested, why does anyone give money to public radio?
Describe the Clayton Act
What will be an ideal response?
The evidence cited in the chapter using the examples of the East Asia New Industrializing Countries suggests that as international productivities converge, so do international wage levels
Why do you suppose this happened for the East Asian NICs? In light of your answer, what do you think is likely to happen to the relative wages (relative to those in the United States) of China in the coming decade? Explain your reasoning.