Recall the Application about how worldwide trade has affected the U.S. auto industry to answer the following question(s). According to this Application, what percentage of parts in the Ford Focus came from parts suppliers in the United States and Canada in 2015?
A. 40%
B. 100%
C. 35%
D. 70%
Answer: A
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The exclusive privilege to use an asset is called a(n)
A) property right. B) exclusive use agreement. C) property privilege. D) right to work privilege.
_____ is measured in terms of current-year prices
a. Nominal gross domestic product (GDP) b. GDP price index c. Real gross domestic product (GDP) d. Arbitrage e. Depreciation
In the simplest Keynesian expenditure model, which of the following is fixed to allow for easy evaluation of changes in demand due to real income?
a. the price level b. interest rates c. tastes and preferences d. future expectations
Joshua claims that the U.S. jewelry industry is in trouble because U.S. jewelry workers are unionized, whereas jewelry workers in less-developed countries are not. Joshua is using which argument against free trade?
a. diversity of industry argument b. national security argument c. infant industries argument d. cheap foreign labor argument e. antidumping argument