Excess capacity refers to any unsold output due to insufficient demand

Globalization has ________ the price of many goods, which has caused the value marginal product of unskilled labor to ________ and the demand for unskilled labor to ________

A) decreased; decrease; decrease B) decreased; decrease; increase C) decreased; increase; increase D) increased; increase; increase

The political wisdom of choosing a tariff acceptable to the median U.S. voter is

A) a good example of the principle of the second best. B) a good example of the way in which actual tariff policies are determined. C) a good example of the principle of political negotiation. D) not evident in actual tariff determination. E) usually evident in actual tariff determination.