Which of the following illustrates why there is a difference in union membership from the late 1970s to 2017?
a. Seatco used to make the seats for an auto company, but now most production takes
place in Mexico.
b. JeriJuice was a private company that formed in 2018 and planned to open regional
distribution centers.
c. Employment at Big Truck transportation grew from 150,000 employees in 1980 to
399,000 this year.
d. Membership in the Dental Association grew from 100,000 in 1970 to twice that number in 2018.
a. Seatco used to make the seats for an auto company, but now most production takes
place in Mexico.
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A person who has an absolute advantage in the production of all goods will
A) also have a comparative advantage in the production of all goods. B) not be able to gain from specialization and exchange. C) have a production possibilities frontier with a constant slope. D) have a comparative advantage in the production of some goods but not in the production of others.
Short-run aggregate supply: a. is a fixed volume of output
b. reflects how much RGDP suppliers are willing and able to produce at different price levels. c. shifts only when the LRAS shifts. d. is not affected at all by the price level.
A firm's revenue from selling its product minus the cost of inputs purchased from other firms is called:
A. production costs. B. profits. C. investment. D. value added.
A statement of the stocks of a country's foreign assets and foreign liabilities at a point in time represents the country's
A. balance of payments. B. financial account balance. C. government budget surplus or deficit. D. international investment position.