Regardless of what types of workers are available in different countries, unrestricted labor outsourcing always results in an equalization of wages across countries.
Answer the following statement true (T) or false (F)
False
Rationale: If workers in low wage countries are less productive (because they have less "human capital"), wages will not equalize.
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Suppose there are three power-generating plants, each of which has access to 5 different production processes. The table below summarizes the cost of each production process and the corresponding number of tons of smoke emitted each.Process(smoke/day) A(4 tons/day) B(3 tons/day) C(2 tons/day) D(1 ton/day) E(0 tons/day) Cost to Firm X ($/day) $500$514$530$555$585 Cost to Firm Y ($/day) $400$420$445$480 $520Cost to Firm z ($/day) $300$325$360$400 $550Suppose the government requires each firm to reduce pollution to 2 tons of smoke per day, so that total daily smoke emission is 6 tons. The total cost to society of this policy will be ________ per day.
A. $42 B. $59 C. $135 D. $230
The marginal product curve is a mirror image of
a. The average cost curve b. The average fixed cost curve c. The total cost curve d. The marginal cost curve
Comparing _____ can give us some sense of what the multiplier actually is in the economy.
A. hard money to M2 B. hard money to M1 C. M1 to M2 D. hard money to fiat money
To prevent cost-push inflation
A) there must not be an excess demand for money B) interest rates must not rise C) there must not be an increase in government purchases D) the Fed must not let the quantity of money rise persistently.