Why would a new limit on trade in goods with the United States by Canada be more important to the U.S. economy than the same type of policy in Italy?
a. Canadians speak English so U.S. citizens are more interested in what they do.
b. Canada has greater natural resource access than the U.S
c. Canada is one of the U.S.' largest trading partners.
d. Canada uses the U.S. dollar as an official currency.
c
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The organization that was set up to promote the interests of a loose group of craft unions was the
a. Knights of Labor b. Congress of Industrial Organizations c. Cigar Maker's Union d. Welder's Union e. American Federation of Labor
A television station reports that the price of orange juice has declined but the quantity sold has increased. This situation would be caused by a(n):
a. Increase in demand b. Increase in supply c. Decrease in supply d. Decrease in demand
Why are politicians and economists concerned about the economic growth rate in the? U.S.?
What will be an ideal response?
If the supply curve for orange juice is estimated to be Q = 40 + 2p, then
A) supply is price elastic at all prices. B) supply is price inelastic at all prices. C) supply is elastic only at prices below 20. D) No general statements about price elasticity of supply can be made.