Which is the best approach to analyzing migration in the long run?
a. the specificfactors model with no resource mobility across borders
b. the specificfactors model with free movement of labor across borders
c. the HeckscherOhlin model with free movement of labor across borders
d. the HeckscherOhlin model with no resource mobility across borders
Ans: c. the HeckscherOhlin model with free movement of labor across borders
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Which of the following would cause an unambiguous decrease in the real price of DVD players?
A) A shift to the right in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. B) A shift to the right in the supply curve for DVD players and a shift to the left in the demand curve for DVD players. C) A shift to the left in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. D) A shift to the left in the supply curve for DVD players and a shift to the left in the demand curve for DVD players.
The money demand curve will shift to the right if:
A. the nominal interest rate increases. B. the price level decreases. C. the price level increases. D. the nominal interest rate decreases.
People make decisions every day that reflect a finite (as opposed to infinite) valuation of their own lives.
Answer the following statement true (T) or false (F)
In Figure 24.2, total revenue at the profit-maximizing rate of output is
A. $22.00. B. $4.00. C. $6.40. D. $16.00.