The Trade Adjustment Assistance Act of 2002 focused mainly on assisting:
A. U.S. firms to establish export markets around the world
B. Other nations to become familiar with, and adjust to, U.S. products
C. Workers displaced by imports or plant relocations abroad
D. Businesses who wish to globalize and compete in the world market
C. Workers displaced by imports or plant relocations abroad
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In a Lorenz curve, perfect income equality is represented by
A) a vertical line. B) a horizontal line. C) a rectangular hyperbola. D) a 45-degree line originating from the origin.
According to the text, large slave plantations were _____ efficient than farms without slaves because (among several reasons) _______
a. more, the intensity per hour with which slaves worked was high b. more, large plantation owners used political power to control the best land c. less, free men worked harder than slaves d. less, slaves frequently sabotaged production
The law of comparative advantage does not apply to
a. entire nations b. natural resources like air and sunshine c. individuals d. firms e. regions of a country
Suppose a new law requires all piercing studios to pass tougher licensing tests and to begin using more costly sterilization methods. Other things constant, this law would cause:
a. an increase in the supply of piercings and a lower price for piercings. b. an increase in the supply of piercings and a higher price for piercings. c. a decrease in the supply of piercings and a higher price for piercings. d. a decrease in the supply of piercings and a lower price for piercings.