International trade will:
A. create more efficiency.
B. increase total surplus only if the country is a net-importer of a particular good.
C. increase total surplus only if the country is a net-exporter of a particular good.
D. decrease total surplus, which creates a role for government.
A. create more efficiency.
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If increased capital usage reduces the firm's short-run demand for labor, then
a. labor is a regressive factor. b. labor and capital are complements in production. c. labor and capital are substitutes in production. d. labor is a Giffen factor.
Which of the following combinations of points are both efficient and attainable for this economy?
a. G, H
b. J, K
c. F, I, L
d. F, G, H, I, L
A tax credit given to first-time home buyers would result in a _____________ shift in the ______________ curve for housing, which would lead to the unintended result of a(n) _____________ in the price of housing.
A. leftward; supply; increase B. leftward; demand; decrease C. rightward; supply; decrease D. rightward; demand; increase E. none of the above
Suppose the Swiss franc rises against the British pound but falls against the Japanese yen. What happens to the prices of goods imported into Switzerland?
A) Both British and Japanese goods fall in price. B) Both British and Japanese goods rise in price. C) British goods rise in price while Japanese goods fall in price. D) British goods fall in price while Japanese goods rise in price.