Trade theorists have proven that the gains from international trade
A) must raise the economic welfare of every country engaged in trade.
B) must raise the economic welfare of everyone in every country engaged in trade.
C) must harm owners of "specific" factors of production.
D) will always help "winners" by an amount exceeding the losses of "losers."
E) usually outweigh the benefits of protectionist policies.
E
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Jim recently graduated from college. His income increased dramatically;from$5000 a year to $60,000 a year. Jim decided that instead of using the bus, he would buy himself a car. This implies that
a. The car is a normal good for Jim b. The car is an inferior good for Jim c. He is equally happy between using the bus and buying a car d. None of the above
Other things the same, which of the following would both make foreigners more willing to engage in U.S. portfolio investment?
a. U.S. interest rates rise, the default risk of U.S. assets rise b. U.S. interest rates rise, the default risk of U.S. assets fall c. U.S. interest rates fall, the default risk of U.S. assets rise d. U.S. interest rates fall, the default risk of U.S. assets fall
If it becomes more expensive for firms to hold excess capital and labor, the multiplier will
A. increase. B. remain unchanged. C. decrease. D. either increase or decrease depending on the value of the MPC.
What percentage of the U.S. adult population has at least a high school education (as of 2009)?
A. 29 percent B. 41 percent C. 87 percent D. 95 percent