Workers displaced by trade eventually find jobs in
a. another country.
b. the government sector.
c. the industries in which the country has a comparative advantage.
d. a different company in the same industry.
c
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An increase in the price of steel to producers of refrigerators will cause
A) the quantity demanded for steel to increase. B) the demand for refrigerators to decrease. C) the quantity supplied of refrigerators to increase. D) the supply curve for refrigerators to shift left.
Hitler's Germany was an example of a _________ economic system.
A. Capitalist B. Fascist C. Communist D. Socialist
Exhibit 14-3 Impact of flights on house valueEach time Orville flies over Wilber's house, the noise reduces the value of Wilbur's house. The table shows the profits to Orville of each flight, and the value of Wilbur's house. Numberof flights Totalprofits Marginalprofits Value of Wilbur'shouse 1 $10,000 $10,000 $100,000 2 18,000 8,000 95,000 3 24,000 6,000 90,000 4 28,000 4,000 85,000 5 30,000 2,000 80,000 As shown in Exhibit 14-3, at the socially efficient number of flights, what will be the market value of Orville's house?
A. $100,000. B. $95,000. C. $90,000. D. $85,000.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced. B. an unattainable production point. C. what society wants. D. the economy's optimal production point.