Refer to the table above. If the world price of trousers is $8 per pair, then which of the following statements is true?
A) Country B, Country C, and Country D will export trousers, whereas Country A will import trousers.
B) Country A, Country C, and Country D will import trousers, whereas Country B will export trousers.
C) Only Country B will import trousers, whereas Country A, Country C, and Country D will export trousers.
D) All countries will import trousers.
B
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Full-employment output is the level of output that is produced when the labor market is in equilibrium
Indicate whether the statement is true or false
When government provides generous unemployment benefits, unemployed workers have lesser incentives to look for jobs
a. True b. False Indicate whether the statement is true or false
The unemployment rate as determined by the BLS will increase whenever there is a(n)
a. increase in the number of persons classified as underemployed b. increase in the number of unemployed persons while the size of the labor force remains unchanged c. increase in both the number of unemployed and the size of the labor force d. reduction in the size of the labor force e. reduction in both the size of the labor force and the number of unemployed
Suppose that last year $1 U.S. exchanged for 1.2 euros. If this year $1 exchanges for 1.1 euros, then we can conclude that
A. the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. B. the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) to shift to the right. C. the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. D. the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the right.