State at least one economic benefit to increased international trade.
What will be an ideal response?
Benefits include increased specialization and efficiency, increased competition that also should increase efficiency, provision of jobs in exporting industries, improved quality, and lower prices for consumers where imports compete with domestic products.
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Suppose that the country of Libraria made a concerted effort to increase the educational level of its people. If this effort had no effect on the wages of its workers, one might consider this as evidence in support of
a. the human-capital view of education. b. the signaling view of education. c. both the human-capital and the signaling view of education. d. neither the human-capital nor the signaling view of education.
Economists who view the AS curve as vertical believe that government ________________ to raise Real GDP (in the short run) from the demand side of the economy. Economists who view the AS curve as upward-sloping believe that changes in Real GDP (in the short run) _________ result from changes on the demand side
A) can do many things; cannot B) cannot do anything; may C) can do many things; may D) cannot do anything; cannot