If the average productivity of Canadian firms is rising more quickly than the average productivity of Indian firms, which of the following would you expect to see?
A) an increase in the value of the rupee relative to the dollar
B) a decrease in the prices of Indian products
C) a decrease in the quantity demanded of Indian products relative to Canadian products
D) an increase in the quantity demanded of Indian products relative to Canadian products
Ans: C) a decrease in the quantity demanded of Indian products relative to Canadian products
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Which of the following is a characteristic of command economies?
A) Rewards to economic agents are based on market prices. B) Coordination of economic agents is automatic. C) It is difficult to incentivize economic agents. D) The invisible hand functions without any restraint.
An individual in the labor force whose employment was involuntarily terminated is
A) a job leaver. B) a job loser. C) a job reentrant. D) part of the PPI.