In the specific factors model, which of the following will increase the quantity of labor used in cloth production?
A) an increase in the price of cloth relative to that of food
B) an increase in the price of food relative to that of cloth
C) a decrease in the price of labor
D) an equal percentage decrease in the price of food and cloth
E) an equal percentage increase in the price of food and cloth
A
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The techniques of government regulation in the U.S. are intended to increase the degree of competitiveness in the domestic and international marketplaces
Indicate whether the statement is true or false
What are the sources of the demand for loanable funds? What happens to the quantity of loanable funds demanded when the interest rate rises?
The self-interest model predicts that the outcome of the "ultimatum bargaining game" in which the allocator starts with $20 is that
A. the allocator will offer the receiver $0.01 and will propose to keep $19.99 for himself. B. the receiver will always reject the allocator's proposal. C. the allocator will offer the receiver $10 and keep $10 for himself. D. the allocator will always keep the full $20.
There is some misunderstanding of the WTO's provisions for environmental protection in trade. The WTO actually:
a. allows nations to bar all imports from nations that do not conform to their own standards. b. provides that nations may enforce any standards for particular products as long as the standards apply equally to domestic producers and importers. c. does not make any pretense of caring at all about the environment. d. is very inconsistent in its rulings.