The benefits to the United States of outsourcing include all of the following except
A. Foreign firms insource or send jobs to the United States.
B. U.S. productivity rises, resulting in higher profits at U.S. firms that outsource.
C. Greater domestic investment by U.S. firms that outsource.
D. Higher domestic labor cost for U.S. firms.
Answer: D
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The law of demand implies that, other things remaining the same
A) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will increase. B) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will decrease. C) as income increases, the quantity of cheeseburgers demanded will increase. D) as the demand for cheeseburgers increases, the price of a cheeseburger will fall.
Which of the following is true of firms in both monopolistic competition and perfect competition?
a. Firms face a horizontal demand curve. b. Price exceeds marginal revenue. c. Firms can enter and leave the industry with relative ease. d. Price exceeds marginal cost. e. Products are differentiated.
Is the United States a service economy? Explain based on the types of personal consumption expenditures
What will be an ideal response?
If quantity demanded does not change when the price changes, the demand:
A. is perfectly inelastic. B. is elastic. C. is inelastic. D. has unit elasticity.