The government should extend the duration of unemployment benefits to those workers who lost their jobs due to outsourcing. This statement is best described as
A. an example of marginalism.
B. a positive statement.
C. an example of the fallacy of composition.
D. a normative statement.
Answer: D
You might also like to view...
Refer to the diagram. If farmers produce a normal crop of Q n , their gross income:
A. will be 0P p PNQ n .
B. will be 0P n NQ n .
C. will be P p × Q n .
D. cannot be determined.
If events in a single country cause its economic activity to move up or down through a business cycle, what difference(s) might it make that the economy is closely integrated with other economies in the world?
What will be an ideal response?
High income countries have tariff policies that generally have
A. equal tariff rates and quotas for all imported items. B. higher tariff and quota protection on high technology products that compete with domestic firms. C. lower tariff and quota protection on products in agriculture, and clothing and textiles. D. higher tariff and quota protection on products in agriculture, and clothing and textiles.
Japan has developed a comparative advantage in designing and producing automobiles. The source of its comparative advantage in these products is
A) technology. B) a strong central government. C) a favorable climate. D) abundant supplies of natural resources.