Some evidence suggested that intra-industry trade between similar countries had a _______ impact on domestic workers but later evidence indicates that it all depends on how ______ the labor market is.
a. small; sticky
b. large; sticky
c. small; flexible
d. large; flexible
c. small; flexible
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Suppose that the interest rate paid to savers increases. As a result, Tom wishes to save more. This suggests that, for Tom,
A) the substitution effect is greater than the income effect. B) the income effect is greater than the substitution effect. C) utility maximization is not occurring. D) future consumption is a luxury.
If Katherine claims that when it comes to buying shoes, "price is no object," her demand curve for shoes is likely to be
a. horizontal b. nonexistent c. upward sloping d. highly inelastic e. unit elastic
Which of the following is related to the concept of trade-off used in economics?
a. Paying tuition to attend college b. Paying a high price for a movie ticket on the first day of screening c. Not having enough information available to make a rational decision d. Giving up one good or activity in order to obtain some other good or activity e. Having your cake and eating it too
Determine the required scope of work:
What will be an ideal response?