The activities in which U.S. workers are relatively more productive
A) pay higher wages.
B) are those in which the United States has a comparative advantage.
C) are at risk of disappearing from the United States when NAFTA is completed.
D) Both answers A and B are correct.
D
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The supply of product X is inelastic (but not perfectly inelastic) if
A. an 8% increase in price generates an 8% increase in quantity supplied. B. a 10% decrease in price does not affect quantity supplied. C. a 7% decrease in price generates a 5% decrease in quantity supplied. D. a 5% increase in price generates a 7% increase in quantity supplied.
The advantage of a "buy-and-hold strategy" is that
A) net profits will tend to be higher because there will be fewer brokerage commissions. B) losses will eventually be eliminated. C) the longer a stock is held, the higher will be its price. D) profits are guaranteed.
Which of the following are elements for markets that resemble perfect competition?
a. flat demand curves; easy exit; easy entry b. steep demand curves; difficult exit; easy entry c. flat supply curves; easy exit; difficult entry d. steep supply curves; difficult exit; difficult entry
Andrea Burris lost her job in a company layoff 5 months ago. She would take a job if one was offered, but she has given up looking for work until the economy improves. She is:
A. a member of the civilian labor force who is employed. B. a member of the civilian labor force who is unemployed. C. a member of the civilian labor force who is underemployed. D. a discouraged worker who is not a member of the labor force.