Joshua claims that the U.S. jewelry industry is in trouble because U.S. jewelry workers are unionized, whereas jewelry workers in less-developed countries are not. Joshua is using which argument against free trade?
a. diversity of industry argument
b. national security argument
c. infant industries argument
d. cheap foreign labor argument
e. antidumping argument
D
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Refer to the Article Summary. All else equal, a depreciation of the Chinese yuan relative to a currency such as the U.S. dollar should ________ the current account balance in China and therefore ________ the financial account balance in China
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
Of the following, the largest is
A) money market deposit accounts. B) demand deposits. C) M1. D) M2.
If the marginal productivity of labor was the sole determinant of household income in the U.S., then
a. no households would be poor according to the official government definition of poverty. b. no households would be poor according to a relative definition of poverty. c. the distribution of income would be unequal. d. every household would have sufficient income to meet biological needs.
Foreign savings that are used for investment spending in the United States are ______.
a. domestic savings b. unilateral transfers c. service imports d. capital inflows