Suppose the United States eliminates steel tariffs. How does the change in steel import restrictions affect automobile manufacturers who use steel as an input?
Ans: the automobile industry will experience job growth as manufacturers are less likely to relocate to other countries
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One characteristic of a Giffen good is that it
A) is a luxury good. B) is an inferior good. C) has an upward-sloping Engel curve. D) All of the above.
Utility is easy to measure in the real world with recent advances in psychometric technology
a. True b. False Indicate whether the statement is true or false
Your professor loves her work, teaching economics. She has been offered other positions in the corporate world that would increase her income by 25 percent, but she has decided to continue working as a professor. Her decision would not change unless
a. the marginal cost of teaching increased. b. the marginal benefit of teaching increased. c. the marginal cost of teaching decreased. d. the marginal benefit of a corporate job decreased.
The Dow Jones Industrial Average has been computed regularly since
a. 1976. b. 1948. c. 1913. d. 1896.