Economists studying the effect of the China shock on the U.S. economy point out that the firms most hurt by Chinese imports have been
A) evenly distributed across the United States.
B) almost exclusively located in the Northeast.
C) concentrated in certain states, particularly in the Midwest and Southeast.
D) located primarily along the Pacific coast.
Answer: C
Economics
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Refer to the above figure. A minimum wage has been set at WM. The amount of unemployment is
A) zero. B) at Qe. C) QS minus QD. D) not computable from the information given.
Economics
Money exchanges are more efficient than barter because:
a. money exchanges do not require a double coincidence of wants. b. the government guarantees the value of money. c. money usually has an intrinsic value. d. money is backed by a physical commodity. e. opportunity costs are higher with barter trades.
Economics