Which of the following refers to a two-way trade in which a country both exports and imports the same or very similar products?
A. Inter-industry trade
B. Intra-industry trade
C. Net trade
D. Internal trade
Answer: B
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Of the following nations, the country with the highest saving rate is
A) the United States. B) Japan. C) Mexico. D) Ethiopia.
If the price of output increases, the marginal revenue product curve will shift ________ and the profit-maximizing quantity of labor demanded will ________.
A. up; increase B. up; decrease C. down; increase D. down; decrease
Related to the Economics in Practice on p. 105: Researchers found that after a few years of a tax relief policy for foreigners, the fraction of foreigners in the top 0.5 percent of income earners in Denmark almost doubled. The researchers concluded that for this group of workers, labor supply seems to be
A. perfectly inelastic B. unit elastic. C. elastic. D. inelastic.
Payments for capital include investment and profit.
Answer the following statement true (T) or false (F)