The Leontief paradox would be used to explain which of these situations?
What will be an ideal response?
the US exports goods that require skilled labor and imports heavy manufacturing products that require large amounts of capital.
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A decrease in the price of a good would
a. increase the supply of the good. b. increase the quantity demanded of the good. c. give producers an incentive to produce more to keep profits from falling. d. shift the supply curve for the good to the left.
Collective bargaining outcomes depend on the relative strength and tactics of the two parties involved.
Answer the following statement true (T) or false (F)
A data set is a balanced panel if it _____.
A. consists of a sample of individuals, households, firms, cities, states, countries, or a variety of other units, taken at a given point in time B. consists of observations on a variable or several variables over time C. consists of data for each cross sectional units over the same time period D. consists of time-demeaned data for different cross sectional units
Which of the following correctly describes the Phillips curve? ?
A. ?A curve showing the inverse relationship between interest rates and the quantity of money demanded. B. ?A curve showing the direct relationship between interest rates and the quantity of money demanded. C. ?A curve showing the direct relationship between the inflation rate and the unemployment rate. D. ?A curve showing the inverse relationship between the inflation rate and the unemployment rate.