The growth of international trade has helped to ______ the productivity of U.S. workers as a whole, and thus helped to ________ the average level of wages.
a. lower; lower
b. raise; raise
c. raise; lower
d. lower; raise
b. raise; raise
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The country of Yokovia does not trade with any other country. Its GDP is $20 billion. Its government collects $2 billion in taxes. Consumption equals $15 billion and investment equals $2 billion. What is public saving in Yokovia, and what is the value of the goods and services purchased by the government of Yokovia?
a. -$2 billion and $1 billion. b. $1 billion and $1 billion. c. -$1 billion and $3 billion. d. -$2 billion and $3 billion.
Assuming that pizza is a normal good, if students' income at your college increases substantially, there would be:
A) a reduction in the demand for pizza. B) an increase in the quantity of pizza demanded. C) no change in the demand for pizza. D) an increase in the demand for pizza.
If the demand curve for each firm in Industry X is horizontal, then the demand curve for Industry X must also be horizontal.
Answer the following statement true (T) or false (F)
Refer to the scenario above. What is likely to be the impact on Firm B's sales if Firm A decides to sponsor the event while Firm B decides not to sponsor the event?
A) A 0% increase in sales B) A 7% increase in sales C) A 5% increase in sales D) A 10% increase in sales