The labor pool effect of globalization has which of the following effects?
A. The supply of labor for many kinds of work increases, pushing the equilibrium wage down.
B. The overall number of workers employed falls.
C. The labor force participation rate declines.
D. The demand for labor for many kinds of work increases, pushing the equilibrium wage up.
Answer: A
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Refer to the figure above. If the economy of Barylia opens up to free trade, then which of the following statements is true?
A) Barylia will start importing calculators. B) Barylia will start exporting calculators. C) Domestic consumers will purchase a greater quantity of calculators than before. D) The production and purchase of calculators within Barylia will remain the same as before.
Which of the following policies is a supply-side policy?
a. Reduction in taxes. b. Reduction in regulation. c. Reduction in resource prices. d. Subsidies to produce technological advances. e. All of these.
A recent breakthrough in the field of genetics will allow scientists to insert into banana trees a human gene that protects against deadly childhood diseases. This is an important breakthrough for some less-developed countries because they cannot afford the traditional vaccines for these diseases. What effect might this breakthrough have on these countries' aggregate supply curves?
A higher price level __________ the real value of purchasing power of the publics accumulated savings and balances
What will be an ideal response?