When a nation starts importing a good or service, domestic employment in that industry
A) decreases.
B) stays the same.
C) increases.
D) might change, but more information about what else the country imports is needed to determine if employment increases, decreases, or does not change.
E) might change, but more information about what the country exports is needed to determine if employment increases, decreases, or does not change.
A
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What will be an ideal response?
Which statement(s) are most likely correct about supply?
a. A rise in price almost always leads to an increase in the quantity supplied of that good. b. A rise in price almost always leads to a decrease in the quantity supplied of that good. c. A fall in price almost always lead to an increase the quantity supplied. d. A rise in price almost always leader to an increase in the quantity demanded of that good.
Suppose a firm is considering producing zero units of output. We call this shutting down in the short run and exiting an industry in the long run
a. True b. False Indicate whether the statement is true or false
Which of the following best describes the comparative advantage of the two countries illustrated in Figure 35.1?
A. Japan has a comparative advantage in motorcycles, the United States in DVD players. B. Japan has a comparative advantage in DVD players, the United States in motorcycles. C. The United States has a comparative advantage in both goods. D. Japan has a comparative advantage in both goods.