Which of the following is a true statement about U.S. job gains and losses under free trade agreements?
A) Whether jobs have been gained or lost, the size of these gains or losses is small relative to total U.S. job creation.
B) Free trade agreements have resulted in a significant loss of jobs in the U.S.
C) Free trade agreements have resulted in a significant gain in jobs in the U.S.
D) Free trade agreements have resulted in no change in jobs in the U.S.
A
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If the consumption function is C = 25 + 0.9y and income increases by $100, then savings will increase by
A) $10. B) $25. C) $90. D) $115.
Explain briefly the following concepts:
(a) Increasing returns to scale. (b) Decreasing returns to scale. (c) Constant returns to scale
Which statement is true?
A. it is easier to attain full employment than full production. B. employment discrimination no longer exists in the U.S. labor market. C. The United States is usually operating on the production possibilities frontier. D. None of these statements are true.
The short-run break-even price
A) is the price at which the firm's current liabilities are paid off. B) is the price at which a firm's total revenues equal total costs. C) occurs at the output at which the firm yields a below normal rate of return. D) occurs at the output at which the firm yields a positive economic profit.