Economic theory states that losing comparative advantage in one good means creating a comparative advantage in another. This suggests that:
A. those who experience the transition may find it difficult in the short run.
B. it canbe seen as a success in the short run.
C. outsourcing willalways be good for every member of a society.
D. in the long run people may not like it, but no one will complain in the short run.
A. those who experience the transition may find it difficult in the short run.
You might also like to view...
Which of the following is true about the distribution of income in the U.S. in the last three decades?
A) For much of this period real wages paid to college graduates have risen significantly. B) Real wages paid to blue-collar workers have grown only slightly. C) There has been a shift in the distribution in income across various segments of the economy, with the real earnings of the richest in America rising to record levels. D) All of the above are true.
Suppose that the latest Consumer Price Index (CPI) release shows a higher inflation rate in the U.S. than was expected. Everything else held constant, the release of the CPI report would immediately cause the demand for U.S
assets to ________ and the U.S. dollar would ________. A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
Technically speaking, in what year did the "Great Recession" end?
a. 1933 b. 1935 c. 2007 d. 2009 e. It had not ended as of 2011.
From 1973 to the early 1990s, U.S. productivity __________________.
Fill in the blank(s) with the appropriate word(s).