How are goods manufactured in other countries creating jobs in the United States?
A. People whose jobs were outsourced are now discouraged workers.
B. People who have lost jobs have more time to shop and therefore increase demand for goods.
C. U.S. firms are specializing in managing the trade of these goods.
D. Foreign countries are importing U.S. natural resources.
Answer: C
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Consider two economies: Barylia and Lithasia. The GDP per capita in Lithasia is $6,000 while the GDP per capita in Barylia is $12,000. Both countries grow exponentially at an annual rate of 10%
How will their GDPs vary over the next year? Is there any limitation of comparing the absolute levels of GDP per capita of both countries over the next years? If yes, what is a plausible solution?
Refer to Figure 2-4. A movement from X to Y
A) is the result of advancements in plastic production technology only, with no change in food production technology. B) could be due to a change in consumers' tastes and preferences. C) is the result of advancements in food production technology only, with no change in the technology for plastic production. D) could occur because of an influx of immigrant labor.
Which of the following statements concerning the short-run average cost curve of economic theory is true?
a. It is L-shaped b. It is ?-shaped c. It is ?-shaped d. It is ?-shaped e. It is M-shaped
Which of the following is not true about the Federal Reserve banks?
A. They serve as bankers' banks. B. They compete with commercial banks in their basic functions. C. Unlike other banks, they are not motivated by profits. D. They are privately owned but government-controlled.