Concerns over unpleasant or unsafe standards of foreign labor do not affect most of U.S. trade because most U.S. trade is intra-industry and carried out with
a. high-income countries that have labor standards similar to the United States.
b. low-income countries that have labor standards similar to the United States.
c. high-income countries that have lower labor standards than the United States.
d. low-income countries that have lower labor standards than the United States.
a. high-income countries that have labor standards similar to the United States.
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Advocates of floating rate suggested it is favorable for economies for all of the following reasons EXCEPT
A) it discourages attack from foreign exchange speculators because of the fact that exchange rate adjustment is immediate. B) it helps stabilize the shock effect on unemployment in case of economic changes such as fall in export demand. C) it automatically matches the domestic inflation with ongoing foreign inflation. D) it gives every country the opportunity to guide its own monetary conditions at home. E) it brings the LR exchange rate to the level predicted by PPP without government policy decisions.
When there is extremely high and volatile inflation in an economy, the decision-making of firms leads to a very ________ SAS curve and thus relatively ________ cycles in real GDP
A) steep, mild B) steep, violent C) flat, mild D) flat, violent