Measured as a share of national income, government expenditures on income transfers during the last 70 years have
a. grown rapidly.
b. declined substantially.
c. been virtually unchanged.
d. increased throughout much of that period, but they have declined substantially since 1980.
A
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Calculate the price elasticity of demand for gasoline implied by what most studies have found
What will be an ideal response?
A decrease in the amount of human capital acquired by workers will lead to decrease in the supply of labor
Indicate whether the statement is true or false
The product life cycle theory predicts that comparative advantage shifts away from the country of origin if:
a. the product is introduced in many countries simultaneously. b. the product is highly demanded in international markets. c. the demand for the product drastically declines in the domestic market of the country where it was invented. d. other countries have lower manufacturing costs using the now-standardized technology. e. other countries develop highly skilled labor force to improve product quality.
If the Canadian government raises it budget deficit, then Canada's net capital outflows will
a. increase, so its exchange rate will rise. b. increase, so its exchange rate will fall. c. decrease, so its exchange rate will rise. d. decrease, so its exchange rate will fall.