In a 2007 New York Times article Paul Krugman wrote that
a. the infant-industry argument works well as an argument in favor of protection for the U.S. steel industry.
b. the negative effects of third world exports on U.S. wages may be increasing.
c. there are social gains to the U.S. from free trade.
d. high wage countries account for a growing share of U.S. imports of manufactured goods.
b
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As a person's wage rate increases, the substitution effect motivates an increase in work and the income effect motivates a decrease in work
Indicate whether the statement is true or false
Historically, most harmful bubbles are characterized by
A. investment in stocks. B. the sale of Treasury bills. C. heaving borrowing. D. reliance on technology.
Throughout this discussion of taxes, there has been repeated mention of the need for progressivity in the tax system. Why is this an important goal for tax systems in most societies?
What will be an ideal response?
If the price of business broadband is greater than that of residential broadband, all else equal,
A) business has greater price elasticity than residential. B) residential has greater price elasticity than business. C) both have positive income elasticity. D) generally speaking, broadband is equally priced.