Competition between the United States and Mexico is
A) equivalent to the competition between two giant corporations.
B) a struggle over which country will get the best jobs.
C) unfair if wages in Mexico are lower than in the United States.
D) a struggle over which country will keep the most advanced technology.
E) not a meaningful way to analyze trade.
E
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In the Classical view, the money supply determines
A) interest rates. B) the saving rate. C) aggregate supply. D) the price level.
Which of the following is an example of a price control policy?
a. Increasing the income tax rate b. Setting a minimum wage level c. Mandating a 2 percent tax on imported automobiles d. Mandating higher taxes on alcoholic beverages in the state
Each person is better off with a bigger tax return than with a small tax return. That means that everyone would be better off if all taxes were zero. A person saying that is
A. wrong because firms operate on jealousy. B. wrong because causation and correlation are not the same. C. wrong and have fallen victim to the fallacy of composition. D. right.
Macroeconomics
A. deals with both individual decisions and the sum of those individual decisions. B. studies the behavior of individual consumers, firms and markets. C. studies the behavior of the economy as a whole. D. involves the interaction between different countries in specific markets.