Supporters of the World Trade Organization contend that it:
A. Imposes safeguards for worker safety in member nations
B. Weakens the environmental laws in member nations
C. Undermines minimum wage laws in member nations
D. Liberalizes trade among member nations
D. Liberalizes trade among member nations
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If the opportunity cost of working outside the home decreases then it is likely that ________, assuming all else equal
A) there will be a rightward shift in the labor supply curve B) there will be an upward movement along the labor supply curve C) there will be a downward movement along the labor supply curve D) there will be a leftward shift in the labor supply curve
A consequence of increasing marginal costs of producing digital music players in Japan is
A) Japan will stop short of complete specialization in the production of digital music players. B) Japan will likely impose trade restrictions on imported digital music players. C) Japan will not export digital music players. D) Japan will import digital music players from countries that don't experience increasing marginal costs.
The measured unemployment rate will be understated when
A) unemployed workers become discouraged and drop out of the labor market. B) unemployed people that are not actively looking for a job are not counted as part of the labor force C) people pretend to be looking for a job D) All of these.
Less demand in the economy may increase unemployment; this may lead to less spending which may reduce demand further. This process is called:
a) The upward accelerator b) The downward multiplier c) The upward PPF d) The downward mpc