NAFTA has greatly improved cooperation between the U.S. and Mexico in the regulation of
A. undocumented Mexican immigrant workers in the U.S.
B. Mexican banks operating in the U.S.
C. travel by U.S. tourists to Mexican beaches during Spring Break.
D. pollution created by maquiladoras operating in Mexico along the U.S. border.
Answer: D
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A rational consumer will always shift a dollar from a good whose marginal-utility-to-price ratio is lower to one whose marginal-utility-to-price is higher
a. True b. False Indicate whether the statement is true or false
Mary wants to open her own taco stand. Which of the following will probably happen?
a. She will start up her business in a year because she has to wait to get government approval. b. She will start up her business in a month because of low cost and ease of entry. c. She will take six months to start her business because of all the government certificates she has to get. d. She will take three months to start her business because she has to borrow to pay start-up fees.
Which of the following is FALSE?
A) The analysis of agriculture, textiles, and clothing in the EU, the United States, and Japan supports the proposition that older sectors of the economy are most protected, particularly in cases where the nation has lost a substantial part of its comparative advantage. B) Even when tariffs are relatively low, the cost per job saved tends to be high. C) Commercial policy is grossly inefficient at achieving the objective of job preservation. D) Trade barriers in high-income countries do not cause unintended consequences in low-income countries because most of their trade is with other industrialized countries.
At the profit-maximizing level of employment, the monopsonist
A. pays a wage equal to MRP. B. pays a wage less than MRP. C. pays a wage greater than MRP. D. pays a wage equal to MFC.