Imports from China represent ____ of total U.S. imports.
A. less than 20 percent
B. approximately 40 percent
C. approximately 60 percent
D. more than 80 percent
Answer: A
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Pennsylvania's largest grower of fresh-to-market tomatoes announced in March 2009 he will no longer produce the crop. The acreage he previously devoted to tomatoes and pumpkins will be converted to field corn that is harvested by machines
Of the following, which could have led to the shift from labor intensive tomato production to field corn? A) The market price of tomatoes increased. B) Farm workers' reservation wage fell. C) The wage rate for farm workers increased. D) All of the answers are true.
An increase in exports decreases aggregate demand
Indicate whether the statement is true or false
Imposing a quota on metal softball bats shipped into the United States would likely:
a. increase the price of the bats but decrease the total quantity of bats purchased in the United States. b. increase the price of the bats and the total quantity of bats purchased in the United States c. leave the price of the bats unchanged but decrease the quantity purchased in the United States. d. leave both the price of bats and the quantity purchased in the United States unchanged.
Minimum wages are the predominant reason for unemployment in the U.S. economy
a. True b. False Indicate whether the statement is true or false