Outsourcing is the
A. Loss of output because of an increase in unemployment.
B. Unemployment that is inevitable when jobs leave a country.
C. Relocation of production from domestic companies to foreign countries.
D. Movement of workers to foreign countries where there are more jobs.
Answer: C
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Use the following table to answer the question below. Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of corn. If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake sells Jane 72 pounds of corn, then the gains from trade for Jake are ________ pounds of green beans and ________ pounds of corn with trade and specialization.
A. 16, 32 B. 8, 4 C. 4, 8 D. 32, 16
According to the above table, the value of MPS is
A) 0.9. B) 0.1. C) 0.2. D) increasing as real disposable income rises.
Refer to the scenario above. People will earn a net benefit of ________ if the discount weight of the future benefit is 1/10
A) 950 utils B) 930 utils C) -600 utils D) -950 utils
Unemployment insurance cannot eliminate the national costs of lost output due to unemployed labor.
Answer the following statement true (T) or false (F)