By opening up to foreign markets, two things that countries generally experience are:
A. gaining access to a wide array of new products and saving money through access to cheaper goods.
B. saving money through access to cheaper goods and finding new customers who generally pay less for their products.
C. increase in negative trade outcomes with that nation and finding customers who generally pay less for their products.
D. gaining access to a wide array of new products and increase in negative trade outcomes with that nation.
Answer: A
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Occupations X and Y employ persons with the same productivity. Workers in the two occupations work the same number of hours per day when on the job. Employment is stable throughout the year in X, while Y is characterized by seasonal layoffs. How will the hourly wage rate and annual earnings compare in the two occupations?
a. The hourly wage rate will be higher in X, but the annual earnings will be higher for Y. b. Both the hourly wage rate and annual earnings will be higher in X. c. Both the hourly wage rate and annual earnings will be higher in Y. d. The hourly wage rate will be higher in Y, but the annual earnings will likely be higher for X.
International participants
A. Participate only in American product markets. B. Participate only in American factor markets. C. Take no part in American markets. D. Participate in both American factor markets and American product markets.
Monetary policy influences the market interest rate, which in turn affects _____
Fill in the blank(s) with the appropriate word(s).
Lindahl pricing is not necessary for economic efficiency
a. True b. False