A decrease in the marginal product of labor would be represented by
a. increase in labor demand.
b. decrease in labor demand.
c. increase in the quantity demanded of labor.
d. decrease in the quantity demanded of labor.
e. an increase in wages.
B
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The emigration of software designers from India to the United States best illustrates a(n):
A. trade flow. B. resource flow. C. financial flow. D. information flow.
Which one of the following terms of trade is most likely to produce mutually-beneficial exchange between the two nations?
If Nations Quirk and Turk only produce aluminum or oil, the table below shows the maximum output of each nation:
A. 0.5 unit of oil for 1 unit of aluminum
B. 0.5 unit of oil for 2 units of aluminum
C. 1 unit of oil for 0.4 unit of aluminum
D. 1 unit of oil for 4 units of aluminum