The net effect of regional trade agreements has been
A) an increase in the total amount of trade in the world.
B) a decrease in the total amount of trade in the world.
C) no change in the total amount of trade in the world.
D) either an increase or decrease in the amount of trade in the world, depending on where trade takes place.
Answer: A
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In choosing between apartments in two different locations, the marginal commuting cost is given by:
A) the commuting cost from the apartment located closer to the destination. B) the sum of the commuting cost from each apartment to the destination. C) the commuting cost from the apartment located farther away from the destination. D) the difference between the commuting cost from two different apartments to the destination.
Which of the following would tend to lessen the wage gap between a country's skilled and unskilled workers?
a. technology increases the productivity of unskilled workers more than that of skilled workers b. the country increases trade with countries that have a higher proportion of skilled workers c. both A and B d. neither A nor B