Plato and Aristotle were both concerned about how an unequal distribution of income could cause political instability
Indicate whether the statement is true or false
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The unemployment rate is defined as: a. unemployed workers plus discouraged workers, divided by the total population over the age of sixteen. b. part-time workers plus full-time workers, divided by the total population over the age of sixteen
c. the percentage of the labor force that is unemployed. d. the percentage of the population over the age of sixteen that is unemployed.
Which of the following statements regarding the cheap foreign labor argument is correct?
a. If there is an abrupt change in foreign competition that severely penalizes American workers, the U.S. government should immediately adopt protectionist measures. b. In the long run, labor will be cheap (wages are low) in those nations where labor is most productive. c. If workers in other countries are willing to supply their products with little compensation, this must ultimately raise the standard of living of the average American worker. d. American workers can never suffer from foreign competition since our monetary and fiscal policies always produce high employment at home.
Thomas faces prices of $6 for a unit of good X and $30 for a unit of good Y. At his optimum, Thomas is willing to give up 1 unit of good Y for __________ units of good X
Fill in the blank(s) with correct word
An increase in inflation in the United States relative to the rate in France would make:
A. U.S. goods relatively less expensive in the United States and in France. B. French goods relatively less expensive in the United States and U.S. goods relatively more expensive in France. C. French goods relatively more expensive in the United States and in France. D. French goods relatively more expensive in the United States and U.S. goods relatively less expensive in France.