During the past 10 to 20 years, a considerable amount of foreign capital has flowed into China. What is an implication of capital flow on the composition of Chinese trade?
a. There should be no change in the composition of China's trade.
b. There should be a shift toward the export of more laborintensive products.
c. There should be a shift toward the export of more capitalintensive products.
d. There should be a shift toward the import of more capitalintensive products.
Answer: c. There should be a shift toward the export of more capitalintensive products.
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It has been hypothesized that the productivity slowdown could have been caused by all of the following except
a. lower worldwide money growth. b. lower technology growth. c. higher oil prices. d. increased government regulation.
The total cost of federal regulation includes
A. only the funding of the regulatory agencies. B. only the cost of compliance by the regulated firms. C. the funding of government agencies overseeing compliance less the compliance cost for the regulated firms and the opportunity cost of regulation for the firms. D. the funding of government agencies overseeing compliance, the compliance cost for the regulated firms, and the opportunity cost of regulation for the firms.
Refer to Scenario 7.8 below to answer the question(s) that follow. SCENARIO 7.8: A swimming pool cleaning company has the following production possibilities. With one, two, three, and four workers, the company can clean 5, 12, 17, and 20 pools per day, respectively. Refer to Scenario 7.8. The average product of labor with three workers is
A. 333. B. 3.5. C. 5.67. D. 11.33.
The data in the table above shows the consumption by families in a small (poor) economy. The families consume only salt and bread. The reference base period is 2011. The CPI in 2012 is
A) 118.8 B) 123.1 C) 100. D) 18.8 E) 23.1