Budget cuts which lead to more lax protection of our borders will affect the labor market in California. It will cause a(n) ___________ in labor supply, resulting in __________.
A. decrease; higher wages
B. increase; higher wages
C. increase; lower wages
D. decrease; lower wages
C. increase; lower wages
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Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The result of Omegalon imposing anti-dumping tariffs on electric lawnmowers manufactured in Alphonia would most likely be
A) lower selling prices on electric lawnmowers in Alphonia. B) higher selling prices on electric lawnmowers in Omegalon. C) increased exports of electric lawnmowers from Alphonia. D) an increased market share for Alphonian-manufactured electric lawnmowers in Omegalon.
________ behavioral assumption about humans was that people usually act in a rational, self-interested way
A) Adam Smith's B) Janet Yellen's C) Karl Marx's D) Thomas Malthus's
Which type of industry is likely to see more intraindustry trade?
What will be an ideal response?
Why has the Federal Reserve chairman often been called the second most important person in terms of affecting the economy?
A) The Fed chairman has veto power over all federal spending. B) The Fed is in control of monetary policy. C) The Fed chairman draws the second highest salary of any official of the federal government. D) The Fed has regulatory power over all financial markets.