Almost ____% of the U.S. population is trapped in a permanent underclass.
Fill in the blank(s) with the appropriate word(s).
10
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Automobiles and many other products are differentiated. As a result,
A) we see countries specializing completely in the production of automobiles. B) consumers of automobiles have difficulty deciding what type of imported automobile to buy. C) different countries may each have a comparative advantage in producing different types of automobiles. D) the quality of imported automobiles is less than it could be.
If cats become a more popular pet in the United States than dogs, what can we expect to happen to the market for cat food workers?
a. MP increases. b. MRP increases. c. MP decreases. d. MRP decreases. e. Wage decreases.
If goods are produced abroad but consumed domestically,
a. those goods are termed imports b. international trade has not occurred c. the domestic economy is economically inefficient d. there are no gains from specialization e. those goods are termed exports
The yield curve generally slopes upward because
A. shorter maturity bonds have more default risk. B. longer maturity bonds typically pay higher interest rates than shorter maturity bonds. C. longer maturity bonds are not taxable. D. longer maturity bonds typically pay lower interest rates than shorter maturity bonds.