Outsourcing is a term increasingly used to refer to the act of:
A. replacing relatively expensive American workers with low-wage workers overseas.
B. importing raw materials into the United States from other countries.
C. exporting final goods to other countries.
D. hiring illegal immigrants.
Answer: A
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Do you think it is correct policy that the federal government is not required to finance all of its expenditures with tax revenues and is allowed to borrow? What are the implications of this policy?
What will be an ideal response?
Assuming a CEO has to sacrifice more than his assistant in order to engage in full-time typing, we would say that his assistant has a(n) ________ advantage in typing versus the CEO.
A. absolute B. overwhelming C. pecuniary D. comparative
Refer to Exhibit 2-8. If Maria and Maya each specialize in the good in which she has a comparative advantage and then engage in trade, ____________________ can consume a combination of goods that lies beyond her PPF.
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