It is often argued that if foreign goods are kept out of the domestic economy:
a. jobs will be lost at home.
b. jobs will be created abroad.
c. domestic consumers will enjoy product surpluses.
d. jobs will be created at home.
e. foreign consumers will suffer product shortages.
d
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A weakness that could be noted about the unemployment rate is that it
A) does not account for the underutilization of workers. B) considers marginally attached workers as unemployed. C) overestimates the number of part-time workers. D) does not count part-time workers. E) counts discouraged workers as employed.
Which of the following would explain why accounting profit might be greater than economic profit?
A) A firm has only explicit costs. B) A firm's net income is greater than its accounting profit. C) A firm's net income is less than its accounting profit. D) A firm has implicit costs as well as explicit costs.
The aggregate demand curve shifts to the left when there is ________
A) autonomous tightening of monetary policy B) an increase in the nominal interest rate C) an increase in inflation D) all of the above E) none of the above
If Nike and Adidas are faced with the game in the figure shown, we can predict:
A. an outcome that is good for society and less than ideal for the companies.
B. an outcome that is less than ideal for society, but optimal for the companies.
C. that both will follow their dominant strategy and society will lose.
D. None of these is likely to happen.