The First World is made up of communist nations
a. True
b. False
Indicate whether the statement is true or false
False
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According to the text, minimum-wage laws cause increases in
A) productivity. B) employment possibilities. C) poverty. D) structural unemployment.
Explain and show graphically the effect of an increase in the expected inflation rate on the equilibrium exchange rate, everything else held constant
What will be an ideal response?
To what phenomenon does "Solow's Paradox" refer?
A) the failure of the Solow growth model to incorporate endogenous growth variables B) the absence of any measured effect of new computer technology on productivity statistics. C) the absence of any long term effect of saving on economic growth rates in the Solow growth model D) the failure of the Solow growth model to predict non-convergence of poor countries
Assume that U.S. producers can manufacture cookies at a lower opportunity cost than Mexican producers. If this is the case
A. Mexico would have the comparative advantage in all products compared to the United States. B. Mexico could still have the comparative advantage in cookie production. C. it would still be possible for Mexico to have a comparative advantage in trade for some other products. D. it will not be possible for Mexico to have an comparative advantage in the production of any other products.