International trade can make some individuals within a country worse off, even as it makes the country as a whole better off
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose that we interpret N as the "effective" labor supply. A "labor-augmenting" technological improvement, when graphed in the Solow growth model, causes (Y/N) to ________ and real GDP per person to ________
A) rise, rise B) rise, fall C) fall, rise D) fall, fall E) fall, remain unchanged
A market consequence of a price floor is that
a. consumers will discover that there aren't sufficient quantities of the good available at the floor price b. producers will reduce the quantity of good they supply c. some rationing mechanism, such as ration coupons, must be created d. an excess supply of the good results e. an excess demand for the good results
Which of the following would be included in U.S. GNP but not in U.S. GDP?
A. Chipsets produced by U.S.-owned firms operating in China. B. Auto parts produced by a Japanese-owned firm operating in North Carolina. C. Sales of used cars in the United States. D. The tips received by a waiter in New Jersey.
If the number of automobile manufacturers decreases:
A. the demand for automobiles increases. B. the demand for automobiles decreases. C. the supply of automobiles increases. D. the supply of automobiles decreases.