If the price is below $130, what will the firm do (a) in the short run? (b) in the long run?

Consider an economy that only produces steel and shoes; steel is capital intensive and shoes are labor intensive. How will emigration of labor from this economy affect the marginal productivity of labor?

a. It will fall. b. It will not change. c. It will rise. d. It will fall in the short run and rise in the long run.

In 2012, the United States imposed antidumping and countervailing duties totaling 24% and 36%, respectively, on imports of solar panels from two groups of Chinese solar panel exporters. Which of the following describes the process that led to these duties?

I. The U.S. Department of Commerce determined that China was dumping and subsidizing solar panels in the U.S. market II. The U.S. International Trade Commission determined that Chinese solar panel imports caused material injury to U.S. solar panel producers. III. The World Trade Organization determined that China was dumping and subsidizing solar panels in the U.S. market a. I and II b. I and III c. II and III d. I, II, and III