Which of the following is true about the GNI of the United States?
What will be an ideal response?
It includes profits earned by a Ford factory set up in Chennai, India.
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Which of the following statements is NOT true?
A. Economic theory often makes unrealistic assumptions. B. Economists ignore details to focus on complex problems. C. Abstraction is not an important part of economic analysis. D. The word theory means different things to economists and to ordinary people.
What is a firm's markup? What does it show?
What will be an ideal response?
In the foreign exchange market between dollars and pesos, the demand for dollars by Mexicans creates the supply of pesos
Indicate whether the statement is true or false
Increasing wage inequality results when international trade leads to ________ wages for workers in exporting industries and ________ wages for workers in importing industries.
A. higher; lower B. higher; higher C. lower; no change in D. lower; higher