In the past few years two deviations from U.S. free trade policies have been _________________ and ______________________.
Fill in the blank(s) with the appropriate word(s).
tariffs on imported steel; agricultural subsidies
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Compare the growth rates in Hong Kong, Korea, Singapore, Taiwan, China, and the United States. In terms of real GDP per person, how far is China behind these others?
What will be an ideal response?
Refer to Figure 17-3. In Panel A, at high wages (segment iii)
A) the price of leisure is rising relative to the price of labor. B) laborers work more as wages increase. C) the price of leisure is falling relative to the price of labor. D) labor suppliers take more leisure as wages increase.
For a firm with market power, advertising expenditures affect all of the following except which one?
A) total cost B) demand curve C) marginal cost D) marginal revenue
The tastes for foreign goods and services generally has a ________ relationship with aggregate expenditure.
A. positive B. constant C. negative D. skewed