The gap in ______________ standards between high-income and low-income countries raises concerns regarding increasing global trade and suggests that restrictions are needed to protect society.
a. environmental
b. quality
c. living
d. employment
a. environmental
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Refer to the scenario above. Which of the following statements will be true?
A) Economy A's steady state equilibrium will lie to the right and below economy B's steady state equilibrium. B) Economy A's steady state equilibrium will lie to the right and above economy B's steady state equilibrium. C) Economy A's steady state equilibrium will lie to the left and below economy B's steady state equilibrium. D) Economy A's steady state equilibrium will lie to the left and above economy B's steady state equilibrium.
As a currency appreciates:
A) exports increase and imports decrease. B) exports decrease and imports increase. C) exports increase and imports increase. D) exports decrease and imports decrease.
A market is defined as contestable if entry to it
A. and exit from it are both difficult. B. is difficult, but exit from it is easy. C. is easy, but exit from it is difficult. D. and exit from it are both easy.
Money is useful because it serves as a
A. never wears out. B. good memorial to national leaders. C. stimulus to the printing industry. D. medium of exchange.