Which of the following is true concerning trade?
A. It reduces consumption possibilities.
B. All groups benefit from free trade.
C. It shifts the production possibilities curve to the right.
D. It redistributes income away from import-competing industries.
D. It redistributes income away from import-competing industries.
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If the U.S. experiences an enormous surge of immigration, we could predict it would make the labor supply:
A. decrease and shift to the right. B. increase and shift to the right. C. increase and shift to the left. D. decrease and shift to the left.
Prices can work to benefit the public interest by
A. raising corporate profit levels. B. improving the fairness of the distribution of income. C. allowing government to regulate the economy. D. allocating scarce resources to those who value the resource the most.
Svetlana is risk averse. Which of the following is correct about Svetlana?
a. Her marginal utility of wealth increases as her income increases. b. She will always accept a bet if the probability of winning a dollar is the same as the probability of losing a dollar. c. Her utility function is a straight line. d. None of the above are correct.
At the end of 2013, the Fed was buying about $100 billion of securities per month, a much higher amount than normal. These purchases would ________ the value of the dollar on foreign exchange markets thereby ________ U.S. exports.
Fill in the blank(s) with the appropriate word(s).