In poorer countries, free trade ________ the demand for labor in these countries and ________ the wages paid in these countries
A) decreases; lowers
B) decreases; raises
C) increases; lowers
D) increases; raises
D
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The marginal product generated by an additional unit of input times the price of the output is called:
A. the value of the marginal product. B. the marginal revenue product. C. Both of these statements are true. D. Neither of these statements is true.
An increase in the capital stock causes labor productivity to
a. decrease and the standard of living to increase b. increase and the standard of living to decrease c. decrease and the standard of living to decrease d. increase while the standard of living remains constant e. increase and the standard of living to increase
An important feature of the internally generated business cycle theory is the role that
a. expectations play in determining levels of investment b. fiscal policy plays in stimulating investment c. changes in interest rates play in determining levels of investment d. technology plays in determining levels of investment e. innovations play in determining levels of investment
Explain the main arguments in favor of economic stabilization