If trade is consistent with the Heckscher-Ohlin (H-O) theory, then growth in a country's scarce factor of production will lead to
A. balanced growth.
B. a deterioration in the country's terms of trade.
C. a decreased willingness to trade.
D. an increased willingness to trade.
Answer: C
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In estimating short-run cost functions, one must adjust for
A) price level changes. B) accounting procedure changes. C) product heterogeneity. D) All of the above
Why does the Federal Reserve alter monetary policy?
(A) To provide services to member banks. (B) To enable banks to clear checks. (C) To lessen the effect of natural business cycles. (D) To regulate the banking industry.
First, explain what the PS relation represents. Second, explain why it has its particular shape
What will be an ideal response?
A job leaver is an individual
A. who used to work full time but left the labor force and has now reentered it looking for a job. B. in the labor force who quits voluntarily. C. who has never held a full-time job lasting two weeks or longer but is now seeking employment. D. in the labor force whose employment was involuntarily terminated.