All of the following location characteristics can result in lower worker salaries except which one?
A) unpleasant work conditions
B) low cost of living
C) great climate
D) short commute time
A) unpleasant work conditions
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Prior to international trade, the price of good X is lower in country A than in country B. This means that we know that
A) country B has an absolute advantage in the production of product X. B) country B has a comparative advantage in the production of product X. C) country A has an absolute advantage in the production of product X. D) country A has a comparative advantage in the production of product X.
What distinguishes an unemployed person from one who is not in the labor force?
What will be an ideal response?
An increase in planned investment would be likely to cause
a. an increase in planned consumption. b. an increase in the rate of planned saving in the economy. c. an expanding level of national income. d. All of these.
Which of the following best represents the effects of a decrease in the price of belts, other things being equal?
a. An upward movement along the demand curve for belts. b. A downward movement along the demand curve for belts. c. A rightward shift in the demand curve for belts. d. A leftward shift in the demand curve for belts.