Congress commissioned a study to determine what the poverty level or minimum level for subsistence should be for the U.S. population. To what branch of economics does this study correspond?
What will be an ideal response?
Normative economics
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Which of the following statements is true?
A) If the domestic price of a good in a country is higher than the world price, the country will become an exporter of the good. B) Whether a country becomes an importer or an exporter of a good depends only on the domestic price of the good and is independent of the world price of the good. C) If the domestic price of a good in a country is higher than the world price, the country will become an importer of the good. D) Whether a country becomes an importer or an exporter of a good depends only on the world price of the good and is independent of the domestic price of the good.
The selection of a new policy takes place during a period of time known as the _____
a. activity lag b. decision-making lag c. effectiveness lag d. implementation lag e. recognition lag
Structural unemployment is:
A. a mismatch between the skills workers can offer and the skills that are in demand. B. unemployment caused by workers who are changing their location, job, or career. C. the effect of wages remaining persistently above the market-clearing level. D. when workers voluntarily quit their jobs.
Which of the following BEST describes the concept of serendipity in exporting?
A) modifying products to meet cultural preferences B) initiating global sales through e-commerce methods C) relying too much on exports when domestic sales suddenly increase D) opportunistically responding to unsolicited orders from foreign customers