In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would
A) move the point of production along the production possibility curve.
B) shift the production possibility curve outward, and increase the production of both goods.
C) shift the production possibility curve outward and decrease the production of the labor-intensive product.
D) shift the production possibility curve outward and decrease the production of the capital-intensive product.
E) shift the possibility curve outward and displace preexisting labor.
D
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The above table gives the demand and supply schedules for cat food. If the price is $1
00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?
A buyer is willing to buy a product at a price greater than or equal to his willingness to pay, but would refuse to buy a product at a price less than his willingness to pay
a. True b. False Indicate whether the statement is true or false
Interstate banking
A. used to be legal but is now illegal. B. used to be illegal but is now legal. C. is illegal today and has always been illegal. D. has always been legal.
Which will NOT affect the elasticity of demand for labor?
A) the labor intensity of the production process B) the elasticity of supply for labor C) the elasticity of demand for the good D) the substitutability of capital for labor