Assuming that labor is the only variable input, if society values a good ________ it costs firms to hire the workers to produce that good, the good ________ be produced.
A. less than; will
B. less than; will not
C. equal to what; will not
D. more than; will not
Answer: B
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Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real GDP and current international transactions balance in the context of the Three-Sector-Model? a. Real GDP falls and current international transactions balance becomes
more negative (or less positive). b. Real GDP rises and current international transactions balance becomes more negative (or less positive). c. Real GDP and current international transactions balance remain the same. d. Real GDP rises and current international transactions balance remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Of the dozen of studies that study the effect on wages, most of the studies show that immigration has ________ effect on wages of the native worker as a whole.
A. a relatively small B. zero C. relatively large D. very large, almost 100%
Because we collectively consume ________ goods, firms in the private sector may not provide them because they ________ exclude those who do not pay.
A. public; can B. public; cannot C. private; can D. private; cannot
Child labor is a common family survival strategy, especially for farmers in rural areas where it is hard to enforce rules or to reach the poor with any supporting infrastructure or social services
Indicate whether the statement is true or false