Some evidence suggested that intra-industry trade between similar countries had a _______ impact on domestic workers but later evidence indicates that it all depends on how ______ the labor market is.
a. small; sticky
b. large; sticky
c. small; flexible
d. large; flexible
c. small; flexible
Some evidence suggested that intra-industry trade between similar countries had a small impact on domestic workers but later evidence indicates that it all depends on how flexible the labor market is.
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If the price elasticity of demand for razors is 0.32, the demand for razors is
A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic. E) perfectly elastic.
The IS curve ________
A) shows the relationship between aggregate output and the real interest rate when the goods market is in equilibrium B) tells us that increases in autonomous consumption, investment, government purchases, or net exports raise output for any real interest rate C) tells us that a decrease in taxes or in financial frictions leads to an increase in output for any given real interest rate D) all of the above E) none of the above
In an economy with a fixed exchange rate, an increased demand for foreign goods would increase the supply of local currency, and the government would have to buy:
A. foreign currency in the foreign exchange market to prevent the domestic currency from depreciating. B. local currency in the foreign-exchange market to prevent the currency from depreciating. C. local currency in the foreign-exchange market to prevent the currency from appreciating. D. foreign currency in the foreign exchange market to prevent the domestic currency from appreciating.
The state of choosing not to acquire information because the costs of acquiring the information are greater than the benefits is referred to as
A) logrolling. B) rational ignorance. C) market failure. D) government failure.