Intra-industry trade between similar countries produces economic gains because it allows workers and firms to learn and _________ on particular products.
a. innovate
b. coordinate
c. disseminate
d. communicate
a. innovate
Intra-industry trade between similar countries produces economic gains because it allows workers and firms to learn and innovate on particular products.
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According to adaptive expectations theory, expansionary monetary and fiscal policies to reduce the unemployment rate are
A) useless in the short run
B) useless in the long run
C) ineffective on the price level
D) none of the above
Intermediate goods and services are ________ production and ________ counted in GDP.
A. used up in the process of; are B. the end products of; are not C. the end products of; are D. used up in the process of; are not
The economy is considered to be at full employment when
A) the frictional unemployment rate is zero. B) the structural unemployment rate is zero. C) the cyclical unemployment rate is zero. D) the unemployment rate is zero.
What would happen to a production possibilities frontier (with capital goods measured on the vertical axis and consumption goods on the horizontal axis) if there is an increase in the labor force?
a. The entire frontier would shift outward. b. The upper part of the frontier would shift outward while the lower part would shift inward. c. Nothing, there would be no movement of the frontier. d. The entire frontier would shift inward. e. The lower part of the curve would shift outward while the upper part would shift inward.