The outsourcing of service jobs such as those in call centers has become a political issue. Do economists see any benefit to outsourcing?
A. Yes; it tends to raise the value of the dollar.
B. Yes; it tends to reduce prices to American companies and consumers.
C. No; it simply shifts jobs overseas.
D. No; it only benefits foreign economies.
Answer: B
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It is possible to represent three dimensions on a two-dimensional graph by using
A. a contour map. B. a razor blade. C. curved lines. D. All of these responses are correct.
In 1886, what did the U.S. Supreme Court rule in Wabash, St. Louis, and Pacific Railway v Illinois?
(a) Only the federal government could regulate commerce across states. (b) Only the states had the right to regulate commerce across states. (c) Neither the federal or state governments had the right to regulate across states. (d) Railroads were not subject to any government regulation, state or federal.
The typical supply curve illustrates that
A) other things equal, the quantity supplied for a good is inversely related to the price of a good. B) other things equal, the supply of the good creates its own demand for the good. C) other things equal, the quantity supplied for a good is positively related to the price of a good. D) price and quantity supplied are unrelated.
One of the advantages of monetary policy over fiscal policy is that
A. monetary policy allows the Fed to limit government spending so that government budget deficits are reduced. B. monetary policy must be approved by Congress, which prevents bad monetary policy from taking effect. C. the Fed can react more quickly than the legislature can. D. monetary policy does not produce inflation, whereas fiscal policy does.