The U.S. factor of production that is most likely to be made worse off because of NAFTA (because its factor payment will fall) is
A) unskilled labor.
B) skilled labor
C) capital
D) All of the above will be made worse off.
A
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For the purposes of GDP accounting, government purchases include
A) the purchases of new military equipment. B) direct transfer payments by the government to other individuals. C) Social Security payments. D) welfare payments.
Suppose a Chinese restaurant provides free tea and fortune cookies to its customers. The restaurant is clearly
A) generating a negative externality. B) generating a positive externality. C) selling food below cost. D) attempting to increase its total profit. E) doing none of the above.
When the value of operating authority fell to zero after trucking deregulation, that was a sign that deregulation would not work well
Indicate whether the statement is true or false
What are efficiency wages and why are they important in internal labor markets?
What will be an ideal response?