Which of the following factors will help the United States regain comparative advantages in industries in which it has lost comparative advantages?
A. The value of the U.S. dollar rises.
B. The United States imports more goods.
C. Wages in the United States rise.
D. The value of the U.S. dollar falls.
Answer: D
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If the price of a product being sold in a perfectly competitive market increases,
A) the MRP curve shifts to the right. B) the MPP curve shifts to the right. C) the MFC curve shifts to the right. D) the MFC curve shifts to the left.
Total profit is maximized if the slope of the total profit curve is
a. positive. b. negative. c. increasing. d. zero.
The optimal hiring rule is to employ labor up to the point where:
a. wage = MP. b. wage = MR. c. wage = MRP. d. wage = MFC.
According to Samuel Gompers, the founder of the AFL,
A. unions should attempt to organize all workers. B. labor should form a political party and run candidates for public office. C. labor should seek government intervention in the labor-management relationship. D. labor should concentrate on bread-and-butter issues.