When a country removes trade barriers and imports appliances and exports engineering services,
a. its growth slows.
b. its productivity decreases.
c. it is essentially transforming engineering services into appliances.
d. its economic well-being decreases while that of the country that sells appliances increases.
c
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The factor that ultimately determines the change in the stock of capital, the level of real wages, and the output of an economy is
A) GDP. B) the labor force. C) the unemployment level. D) net investment.
Refer to the above table. If the price of the product is $1.50, what is the marginal revenue product of the 12th worker?
A) $1035 B) $135 C) $90 D) $1.50
Which of the following was NOT an argument in favor of the United Kingdom (UK) leaving the European Union (EU)?
A. Proponents of leaving wanted greater control over immigration. B. Proponents of leaving believed the UK paid a disproportionate share of membership fees. C. Proponents of leaving wanted greater access to markets in the other EU member countries. D. Proponents of leaving stressed that the UK needed to reestablish British sovereignty.
Which of the following was a Marxist prediction?
A. Standards of living would increase because of improved productivity and technological advance. B. There would be significant differentiation between workers and owners of factories. C. Production would move from large to ever-smaller factories. D. The use of business power would increase competition.