Which of the following reasons explains why rich countries persistently restrict textile imports from poor countries?
A) The trade restrictions make textile consumers better off.
B) The trade restrictions make workers in poor countries better off.
C) The trade restrictions benefit an organized visible special interest in rich countries.
D) Rich countries have a strong need for the revenue from these trade restrictions.
C
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The U.S. economy of the mid 1980s through 2007 is typically referred to as ________
A) "The Great Depression" B) "The Great Inflation" C) "The Great Moderation" D) all of the above E) none of the above
Which of the following contributes to the projected rise in government spending on Social Security and Medicare as a percentage of GDP?
a. increasing life expectancies b. increasing healthcare costs c. increasing fertility rates d. Both a and b are correct.
Which of the following provides the most reasonable explanation for why agricultural interests lobby for higher farm subsidies and price supports?
What will be an ideal response?
The wage paid to workers measured in terms of real purchasing power is called the:
A. cost of living. B. real wage. C. nominal wage. D. minimum wage.