If U.S. consumers decrease their demand for cell phones from Finland, then other things the same Finland's
a. exports and net exports fall.
b. exports fall and net exports rise.
c. imports and net exports fall.
d. imports fall and net exports rise.
a
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For the past several decades, union membership in the United States has been declining. What has been happening in the rest of the world?
A) Union membership has been increasing in almost every other country. B) In almost every other nation, union membership has held constant. C) In most cases, union membership in other nations has also been falling. D) We do not know because other nations do not keep these statistics.
When a firm invests in new technology, it expects to make a profit and thus receive a private benefit. However, ____________ can also be attained if the dollar value of all benefits of a new product or process invented by a company can be captured by other firms and by society as a whole.
a. additional profits b. social benefit c. nonrivalrous results d. nonexcludable benefits
Suppose an economist develops a theory that higher food prices arise from higher gas prices. According to the scientific method, which of the following is the economist's next step?
a. Collect and analyze data. b. Go to a laboratory and generate data to test the theory. c. Publish the theory without testing it. d. Consult with other economists to see they agree with the theory.
The distinguishing characteristic of labor market monopsonies is the fact that
A. They can hire any number of workers they want without affecting the market wage. B. They must usually hire unionized workers. C. They can pay any wage they want for the number of workers they need. D. Their hiring decisions directly affect the market wage rate.