A. increase the prices of U.S. imports but decrease the prices of U.S. exports
A. make Mexico's exports and imports both more expensive.
B. make Mexico's exports more expensive and its imports less expensive.
C. make Mexico's exports less expensive and its imports more expensive.
D. increase Mexican exports.
B. make Mexico's exports more expensive and its imports less expensive.
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In order to analyze costs and benefits that are paid and received at different times, they must be valued at ________ in time as funds received or paid in the future are worth ________ than the same amount received or paid today.
A) a single point; more B) different points; less C) a single point; less D) different points; more
In economic theory, the idea of the equimarginal principle, or consumer equilibrium, means:
a. consumers appear to be similar in their buying habits, which explains why prices are almost always in equilibrium. b. to maximize utility, consumers allocate all of their incomes among goods so as to equate the total utility of all units of goods purchased. c. to maximize utility, consumers must allocate their scarce incomes among only the cheapest products available. d. to maximize utility, consumers must allocate their scarce incomes among goods so as to equate the marginal utilities per dollar of expenditure on the last unit of each good purchased. e. the marginal utilities among luxury goods are always equal among certain high-income earners.
Store clerks are known to have low wages. This is likely to reflect the fact that
a. store clerk jobs are perceived to be relatively easy, thus attracting low-skill workers. b. store clerk jobs are perceived to be relatively difficult, thus attracting high-skill workers. c. many people perceive the job of store clerk as having significant risk of death on the job. d. store clerks are required to have a college degree.
Internal markets cannot suffer market failure like an external market
Indicate whether the statement is true or false