The rapid growth of the Chinese economy should
A) benefit U.S. consumers as they have access to less-expensive consumer goods.
B) make it more difficult for citizens of the United States to find jobs.
C) not affect the mix of jobs available to citizens of the United States.
D) A and B
A
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Can both producer surplus and consumer surplus exist at the same time in a particular market?
What will be an ideal response?
Given the following hypothetical data where C = $3,000; I = $1,200; G = $2,000; X ? M = ?$500; depreciation = $200; transfer payments = $800, net domestic product is _____
a. $5,500 b. $5,700 c. $6,200 d. $6,400 e. $6,900
Market demand is determined by all of the following except
A. Expectations about future income. B. The number of potential sellers. C. Income. D. Tastes.
Specializing and participating in international trade allows and economy to:
a. divert high-skilled resources toward low-valued services b. circumvent the output limits imposed by its own production possibilities curve c. get more of a desired good by sacrificing greater amounts of some other good d. increase the quantities of capital and consumer goods available to society