The North American Free Trade Agreement is likely to lead to
a. decreased employment in some U.S. industries.
b. decreased employment in all U.S. industries.
c. increased employment in all U.S. industries.
d. no changes in U.S. employment.
a. decreased employment in some U.S. industries.
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Suppose Iceland goes from being an isolated country to being an importer of coats. As a result,
a. consumer surplus increases for consumers of coats in Iceland. b. producer surplus increases for producers of coats in Iceland. c. total surplus remains unchanged in the coat market in Iceland. d. it is reasonable to infer that Iceland has a comparative advantage over other countries in coat production.
If the capital stock remains fixed while the supply of labor increases, it is likely that
A. the productivity of labor will rise. B. the productivity of labor will fall. C. output per capita will rise. D. the productivity of labor will not change.
Identify the factors that a firm must consider before shutting down an unprofitable business
What will be an ideal response?
As the interest rate rises, the present value of a given perpetual stream of income
A) increases. B) decreases. C) does not change. D) approaches infinity.