Union membership is likely to fall as growth in tertiary employment occurs in the private sector
Indicate whether the statement is true or false
True
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With no international trade, the U.S. price of wheat is lower than the world price of wheat
This indicates that the United States ________ a comparative advantage in the production of wheat and with international trade, the United States will ________ wheat. A) has; export B) has; not trade C) has; import D) does not have; export E) might have; export
The intersection of supply and demand in the capital market determines the market equilibrium price and quantity in the:
A. rental market. B. purchase market. C. both the rental and purchase markets. D. Any of these statements could be true.
In many countries, laws regarding firing and hiring mainly affect businesses with 50 or more workers. What effect has this had on the businesses?
a. More businesses have 49 or fewer workers. b. Fewer businesses have 49 or fewer workers. c. It has no effect on employment decisions. d. Businesses grow faster to lower the costs of these laws.
Which of the following best describes an assumption economists make about human behavior?
A) They assume that individuals act rationally all the time in all circumstances. B) They assume that rational behavior is useful in explaining choices people make even though people may not behave rationally all the time. C) They assume that people take into account the question of fairness in all decisions they make. D) They assume that individuals act randomly.