If Gambinia has many workers but very little land and even less productive capital, then, following the Heckscher-Ohlin model, we predict that Gambinia will export
A) labor-intensive goods.
B) capital-intensive goods.
C) both capital- and land-intensive goods.
D) land-intensive goods.
E) both labor- and land-intensive goods.
A
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Refer to Figure 4.1. All else equal, a decrease in the government's budget deficit will cause
A) a shift from S1 to S2. B) a shift from S2 to S1. C) a change in the interest rate from r2 to r1. D) a change in loanable funds from L2 to L1.
Which of the following is one of the reasons for declining union membership in the United States?
A) Much of the unskilled, nonunionized work in the United States is done by immigrant workers who are undocumented. B) The AFL-CIO merger and creation of the Change to Win Federation reduced competition among unions. C) the repeal of the Taft-Hartley Act D) Labor force participation by women has decreased.
Consider a firm that produces 500,00 . units per year. The firm's fixed costs are $100,000 . marginal costs are $250 and the price per unit is $400 . In the short-run, how low can price go before it is profitable to shut down?
a. $150 b. $250 c. $250.20 d. $400
The aggregate supply curve is drawn with
a. the price level on the vertical axis and nominal GDP on the horizontal. b. nominal GDP on the vertical axis and real GDP on the horizontal. c. the price level on the vertical axis and real GDP on the horizontal. d. real GDP on the horizontal and the rate of inflation on the vertical.