Economic restructuring that takes place as a result of opening to trade with other countries
A) contradicts the idea of gains from trade.
B) causes some trading activity to be zero sum.
C) worsens the nation's allocation of resources.
D) improves the nation's allocation of resources.
E) is a highly unlikely event.
D
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For a given level of the money wage, an increase in the price level will cause the
a. supply of labor to rise. b. quantity of labor demanded to rise. c. price of leisure to rise. d. quantity of labor demanded to rise. e. both b and d.
Southern plantation owners benefited from British policies on tobacco production in the United Kingdom
Indicate whether the statement is true or false
Global warming is an externality
Indicate whether the statement is true or false
On the basis of the given information, we:
Use the labor demand data on the left and the labor supply data on the right in answering the following question:
A. can say that the labor supply curve facing the firm is nonexistent.
B. cannot say whether the firm's product market is purely or imperfectly competitive.
C. can say that the firm is selling its product in a purely competitive market.
D. can say that the firm is selling its product in an imperfectly competitive market.