The demand curve for high-skilled workers lies to the right of the demand curve for low-skilled workers because of the higher productivity of high-skilled workers
Indicate whether the statement is true or false
TRUE
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Which of following is the best example of a monopoly if we use a broader definition of monopoly?
A) Santos Tacos, the only taqueria in the small town of Santosville B) Cheap Gas, one of two gasoline stations in a large rural community C) Spuds McKenzie, a wealthy potato farmer in Idaho D) Zippie Rentals, a sports car rental service in the downtown Boston area
A firm that sells at a price below average cost is losing money
a. True b. False Indicate whether the statement is true or false
U.S. imports are
a. not added to U.S. GDP because they are produced abroad b. added to U.S. GDP because they are consumed domestically c. added to U.S. GDP because they represent an increase in inventories d. added to U.S. GDP as government purchases because the government decides what goods may be imported e. not added to U.S. GDP because they are intermediate goods
Which of the following is NOT a true statement about U.S. exports?
A) Services have become more important part of exports. B) The U.S. is the world's second-largest exporter of goods. C) Three-fourths of U.S. merchandise exports are manufactured goods. D) The manufacturing sector in the U.S. is no longer significant.