Japanese businesses switch to an improved inventory method that increases output per worker worked This will cause a ______________ Japan's per-worker production function
Fill in the blank(s) with the appropriate word(s).
Answer: shift of
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In the figure above, firms
A) pay taxes directly to governments. B) sell goods and services to governments in goods markets. C) receive transfers from governments through factor markets. D) own factors of production. E) do all of the above.
Trade theory suggests that Japan would gain from a subsidy the United States provides its grain farmers if the gains to Japanese consumers of wheat products more than offsets the losses to Japanese wheat farmers. This would occur as long as Japan
A) is a net importer in bilateral trade flows with the United States. B) is a net importer of wheat. C) has a comparative advantage in wheat. D) has an absolute advantage in producing wheat. E) is involved in intra-industry trade with the United States.
According to the text, if diamonds represent a form of conspicuous consumption, then
A. they should be taxed. B. they should be outlawed. C. they should be given for free. D. they should be subsidized.
"There is evidence that the string of U.S. bank closings in the early 1930s helped start and worsen the Great Depression." Discuss
What will be an ideal response?