Using the specific factors model, assume that strawberry production requires the specific factor of land, tractor production requires the specific factor of capital, and labor is variable. If the United States is capital abundant compared to Mexico, and Mexico is land abundant compared to the United States, then in the short run with trade we would expect
A) the income of U.S. land owners to increase.
B) the income of U.S. workers to increase.
C) the income of Mexican workers to increase.
D) the income of Mexican land owners to increase.
D
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Who promised "two cars in every garage and a chicken in every pot?"
A. Herbert Hoover B. Franklin D. Roosevelt C. Dwight D. Eisenhower D. John F. Kennedy
If the supply curve for housing has the normal positive slope, rent controls are likely to: a. increase the quantity of available housing
b. improve the quality of available housing c. create a larger shortage than if the supply curve were vertical. d. help low-income families find suitable housing.
The collection of statutes aimed at curbing monopoly power is called
a. the 14th amendment. b. the Clayton Act. c. the Sherman Act. d. antitrust law.
The cost of the resources used by domestic producer groups including the lobbying fees, propaganda, and legal restrictions, is collectively referred to as the cost of:
a. enforcement and implementation. b. rent seeking. c. retaliation. d. collective action.