Which of the following statements about the specific factors model is TRUE?
a. When exports of a product rise, the increase in export revenue is divided equally among mobile and specific factors of production.
b. When imports rise, revenues of firms that compete with imports fall. The decrease in revenue is divided equally among the mobile and specific factors of production.
c. When exports of a product rise, factors specific to exports gain less and mobile factors gain more; when imports rise, factors specific to firms competing with imports gain more and mobile factors gain less.
d. When exports of a product rise, factors specific to exports gain more than mobile factors; when imports rise, factors specific to import competing industries lose more than mobile factors.
Answer: d. When exports of a product rise, factors specific to exports gain more than mobile factors; when imports rise, factors specific to import competing industries lose more than mobile factors.
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A. 70 B. 30 C. 20 D. 50
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A. increased use of technology and improved technology. B. population decline. C. reduced unemployment rates. D. its trade deficit with the United States.
Which of the following are part of a commercial bank's reserves?
I. cash in the bank's vaults II. loans III. cash in checking accounts A) I only B) I and II C) I and III D) I, II and III
The above figure shows the market demand curve for mobile telecommunications (time spent on a mobile phone). If the price were zero, consumer surplus equals
A) $301.00. B) $924.50. C) $1,225.50. D) $1,250.00.