Over the past several decades there has been rapid growth in international trade. This growth has been due to all but one of the following factors. Which factor has not contributed to the growth of international trade?
A) a change in the tariffs charged on many goods B) favorable changes in government policies
C) a reduction in shipping costs D) the spread of reliable communications
A
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Structural unemployment occurs when: a. automation reduces the need for welders in Detroit
b. frictional unemployment exceeds 5 percent of the labor force. c. steelworkers are laid off due to a downturn in the economy. d. a person leaves a job to seek a better position and has not yet found the job he or she wants.
The basic liberal solution to welfare dependency is
A. government jobs. B. forcing the poor off welfare. C. ending immigration. D. identical to the conservative solution.
Ingrid has been waiting for the show "Mamma Mia!" to come to town. When it finally does come, tickets cost $60. Ingrid's reservation price is $75. But when Ingrid tries to buy a ticket, they are sold out. Ingrid decides to try to buy a ticket from a scalper (a person who purchased extra tickets at the box office with the intent to resell them at a higher price). If Ingrid finds someone who is willing to sell her a ticket for $70, she should:
A. purchase the ticket because doing so will make her $5 better off. B. purchase the ticket even though doing reduce total economic surplus. C. not purchase the ticket because it is overpriced. D. not purchase the ticket because the cost to the scalper was only $60.
The job of _____ is to impose a settlement.
A. an arbitrator B. a mediator C. a collective bargaining team leader