If unskilled labor is relatively plentiful and cheap in many foreign countries, then as the United States expands its trade with these foreign countries, the domestic demand for
a. both skilled and unskilled labor will rise proportionately.
b. skilled labor will fall and the demand for unskilled labor will rise.
c. skilled labor will rise and the demand for unskilled labor will fall.
d. both skilled and unskilled labor will be unaffected, assuming no barriers to free trade.
c
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A consumption tax system is likely to benefit
A) higher income individuals. B) an individual who, regardless of income, is a large consumer. C) corporations. D) lower income individuals.
Since income distribution and poverty are intrinsically related, they cannot be approached separately
Indicate whether the statement is true or false
Which of the following are most likely to have indifference curves that are L-shaped?
A. Coke and Pepsi B. Ice cream and frozen yogurt C. A white shirt and a blue shirt D. Your textbook and its study guide
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90