An increase in the wages paid to high-school student who detassle corn will increase the labor supply of high-school students who weed soybean fields, all else equal
a. True
b. False
Indicate whether the statement is true or false
False
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Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. From the information in Table 35.1, it is clear that
A. China has a comparative advantage in computers. B. The United States has an absolute advantage in both goods. C. The United States has a comparative advantage in both goods. D. China has both an absolute and comparative advantage in soybeans.
A policy in which a country restricts the importation of goods and services produced in foreign countries is described by economists as:
A) two-way trade. B) protectionism. C) efficient. D) one-way trade.
The demand curve for money:
A. shows the amount of money balances that individuals and businesses wish to hold at various levels of private investment. B. reflects the open market operations policy of the Federal Reserve. C. shows the amount of money that households and businesses wish to hold at various rates of interest. D. indicates the amount that consumers wish to borrow at a given interest rate.
How does adding in investment, government spending, and net exports affect the slope of the consumption function?
a. It makes the slope steeper. b. It makes the slope less steep. c. It does not change the slope. d. It makes the slope vertical.