Leontief found that
A) U.S. exports are capital intensive relative to U.S. imports.
B) U.S. imports are labor intensive relative to U.S. exports.
C) U.S. exports are neither labor nor capital intensive.
D) None of the above.
B
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The use of government regulations and barriers in order to control trade is referred to as:
A) globalization. B) protectionism. C) liberalization. D) actualization.
________ attempts to reduce negative externalities by ________
A) Negotiation; discovering who has which rights B) Negotiation; creating new rights C) Legislation; creating new rights D) Legislation; discovering who has which rights
Farm prices fell sharply in 1919–21 . Then, until 1929, the farm "terms of trade" (the movement of farm prices relative to the movement of non-farm prices)
(a) collapsed by more than half. (b) remained essentially unchanged. (c) actually rose. (d) collapsed, but only slightly.
Assuming price elasticity of demand is reported as an absolute value, an inelastic demand has a measured elasticity:
A. less than one. B. greater than one. C. exactly one. D. greater than zero.