Why is it difficult for one country to determine if another country is guilty of the practice of dumping?
What will be an ideal response?
Dumping is when a firm or industry sells products on the world market at prices below the cost of production. Since it is difficult to know precisely what the costs of production are for foreign firms this can only be done by making assumptions which rely on data known for the home industry.
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Currently, union membership in the U.S. is
a. declining as a percentage of the labor force b. remaining constant c. increasing as a percentage of the labor force d. increasing in the service sector e. decreasing among government employees
A pharmaceutical company hired two analysts to independently calculate the elasticity of supply of its product. According to Analyst A, the price elasticity of supply for the company is 0.36, and according to Analyst B, the price elasticity of supply is 0.88 . Assuming that neither analyst has made a mistake in calculations, it can be concluded that: a. Analyst A studied the data for a longer
period of time than Analyst B. b. Analyst A studied the data for a shorter period of time than Analyst B. c. the data provided by the company had variations in it. d. the average of the two values can provide the accurate price elasticity of supply.
If domestic residents of France purchase 1.2 trillion euros of foreign assets and foreigners purchase 1.5 trillion euros of French assets, then France's net capital outflow is
a. -.3 trillion euros, so it must have a trade deficit. b. -.3 trillion euros, so it must have a trade surplus. c. .3 trillion euros, so it must have a trade deficit. d. .3 trillion euros, so it must have a trade surplus.
If a macroeconomist studying the causes of unemployment finds that, historically, changes in technology seem to have caused between five and 15 percent of changes in unemployment, then this macroeconomist is at which step in the process of developing
an economic model? A) Identify the exogenous variables. B) Identify the endogenous variables. C) Develop a model. D) Compare the model with the data. E) Conduct prediction and policy analysis.