Increasing wage inequality results when international trade leads to ________ wages for workers in exporting industries and ________ wages for workers in importing industries.
A. lower; no change in
B. lower; higher
C. higher; higher
D. higher; lower
Answer: D
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Empirical observations on actual North-South trade patterns tend to
A) support the validity of the Heckscher-Ohlin model. B) support the validity of the Leontief Paradox. C) support the validity of the Rybczynski Theorem. D) support the validity of the wage equalization theorem. E) support the validity of the neo-imperialism exploitation theory.
A rise in the domestic real interest rate would cause a ________ in net exports and a ________ in the exchange rate
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
The above table depicts the output of a firm that manufactures computers. The computers sell for $1,000 each. What is the marginal physical product (MPP) of the eleventh worker per week?
A) 90 units B) 80 units C) $7,000 D) $6,000
What are the properties of indifference curves?