The international trade effect explains that higher prices make domestic goods
a. more expensive, causing imports to rise and exports to fall
b. more expensive, causing imports and exports to fall
c. more expensive, causing imports to fall and exports to rise
d. less expensive, causing imports and exports to fall
e. less expensive, causing imports to fall and exports to rise
A
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Which of the following is one of the chief reasons for the increased number of married women in the U.S. work force?
a. The marginal cost of working in the labor force has increased. b. Jobs provide greater independence and self-worth. c. The opportunity cost of household work has increased. d. The sunk cost of household appliances has risen to the point that women must work to make payments on them. e. Women spend more time in the market as a result of the increasing division of labor in household production.
Adam Smith's book, one of the first systematic treatments of economics, was entitled
a. The Plan of the Ages. b. The General Theory of Money, Taxes, and Income. c. The Wealth of Nations. d. Principles of Economics. e. Concepts in Moral Philosophy.