A nonrenewable resource:
A. is a production input that comes from the earth.
B. can be replenished naturally over time.
C. is used to regenerate an old piece of capital.
D. All of these statements are true.
A. is a production input that comes from the earth.
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In the specific factors model, the effects of trade on welfare are ________ for mobile factors, ________ for fixed factors used to produce the exported good, and ________ for fixed factors used to produce the imported good
A) ambiguous; positive; negative B) ambiguous; negative; positive C) positive; ambiguous; ambiguous D) negative; ambiguous; ambiguous E) positive; positive; positive
Which of the following examples would be least likely to happen in a rent-controlled apartment?
a. The repair of a tile floor would be delayed for months. b. The tenants would be reluctant to move. c. A new toilet would be installed. d. The walls would require repainting.
In an open economy, how many bikes will this country export?
A. 80,000 B. 60,000 C. 50,000 D. 20,000
Unions can be perceived as being economically harmful when they
A. strike infrequently B. successfully negotiate higher wages C. support modernization and new technology D. none of the above