Increased labor demand will result in
A) lower wages. B) more employment benefits.
C) higher wages. D) no change in wages.
C
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Refer to Figure 18.2. In autarky, the maximum amount of spears that Macadamia can produce is
A) 40. B) 100. C) 120. D) 160.
If a firm can segment its market, and the parts cannot communicate among themselves, then
A) arbitrage can occur. B) prices in the segments will tend to be equal over time. C) arbitrage cannot occur. D) the different elasticities will be equal over time.
Everything else remaining unchanged, the effect of domestic spending shocks on a country with a floating exchange rate differs depending on
A. the mobility of capital across countries. B. the interest rate differential between the country and its trading partners. C. the change in the domestic price level in the short run. D. the current trade balance situation of the country.
In the mid-1970s, the United States switched from running a trade ________ to running a trade ________.
A. deficit; surplus B. surplus; deficit C. balance; surplus D. deficit; balance