Major trading partners with the United States have not changed significantly over the last several decade with the exception of trade with
A) the United Kingdom.
B) Mexico.
C) China.
D) Canada.
C
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If a firm is willing to supply the 1,000th unit of a good at a price of $23 or more, we know that $23 is the
A) highest price the seller hopes to realize for this output. B) minimum price the seller must receive to produce this unit. C) average price of all the prices the seller could charge. D) price that sets the marginal benefit equal to the price. E) only price for which the seller is willing to sell this unit of the good.
U.S. import spending is not affected by U.S. real income but is influenced by the economic activity of its major trading partners and the exchange rate, hence import spending is taken as autonomous
Indicate whether the statement is true or false
If the marginal benefit Isaac derives from the consumption of another candy bar is greater than the price of the candy bar, then: a. Isaac will not purchase any more candy bars
b. Isaac will increase his total satisfaction by purchasing the candy bar. c. the opportunity cost of the candy bar is less than the price. d. Isaac's total utility will diminish if he purchases the candy bar.
Which of the following is not a cost of illegal immigration in the U.S.?
a. The adverse impact on unskilled workers b. The damage to national property caused during the process of immigration c. Additional expenditure on healthcare at emergency clinics and hospitals d. Expenditure on public education on the children of immigrants. e. Expenditure on employment insurance programs for the illegal immigrants.