Trade causes wages in countries with high productivity to increase and wages in countries with low productivity to decrease.
Answer the following statement(s) true (T) or false (F)
Ans: False.
You might also like to view...
To compare the change in physical production (GDP) between 2010 and 2016, we should compare ________ GDP in 2010 with ________ GDP in 2016.
A. nominal; nominal B. real; real C. real; nominal D. current dollar; current dollar
James owns two houses. He rents one house to the Johnson family for $10,000 per year. He lives in the other house. If he were to rent the house in which he lives, he could earn $12,000 per year in rent. How much do the housing services provided by the two houses contribute to GDP?
a. $0 b. $10,000 c. $12,000 d. $22,000
Based on the graphs for an increase in aggregate demand and the Phillips curve, we can see that when inflation is low, ______.
a. RGDP is high
b. unemployment is low
c. aggregate demand is weak
d. aggregate demand is strong
Which of the following led to the collapse of the Phillips curve?
A. Rightward shift in the demand for labor curve B. Leftward shift of the Phillips curve C. Leftward shift of the aggregate supply curve D. Rightward shift of the aggregate demand curve