In Figure 6.6 if price is P1, then the industry will:
A. expand.
B. contract.
C. stay the same size.
D. merge.
Answer: B
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Compared to the developing economies, the advanced economies have ________ human capital and ________ physical capital
A) more; more B) more; less C) the same; the same D) less; more E) less; less
Trade without serious income distribution effects is most likely to happen
A) in sophisticated manufactures trade between rich countries. B) in simple manufactures trade between developing countries. C) in sophisticated manufactures trade between rich and poor countries. D) in agricultural trade between rich countries. E) in labor-intensive industries like clothing.
Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of
Which of the following is correct? Using data from 2014,
a. immigrants (both legal and illegal) make up about 40 percent of the U.S. population. b. low-skilled immigration lowers the earnings of all workers in the United States by about 15 percent. c. illegal immigrants make up about 20 percent of the U.S. workforce. d. over 80 percent of immigrants are from Latin America and Asia.