Trade diversion reduces worldwide efficiency, because:
a. production is diverted to the country with the comparative advantage.
b. production is diverted from the country with the comparative advantage.
c. unnecessary trade restrictions are created in the economies.
d. consumption is diverted to the country having inadequate demand.
e. the cost of transshipment of the goods increases thus raising their prices in the world market.
b
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In countries that have a high degree of employment protection as measured by the World Bank's Rigidity of Employment Index, approximately ________ of jobless workers have been employed for more than one year
A) 5% B) 16% C) 27% D) 43%
The time consistency problem implies that
A) the central bank should not commit. B) central bank commitment is useful. C) discretion is better than tying your hands. D) there are problems we cannot solve.
The legislation that granted unions the legal right to organize workers and bargain collectively with employers was the
a. Norris LaGuardia Act b. Wagner Act c. Taft-Hartley Act d. Landrum-Griffin Act e. Civil Rights Act of 1964
Which is NOT considered money?
A. Checking account balances B. Traveler's checks issued by non-banks C. Credit cards D. Currency