According to James and Skinner, in 19th century American manufacturing, ____________ was scarce, but __________________ was even scarcer
a. unskilled labor; capital
b. capital; skilled labor
c. unskilled labor; fuel sources
d. capital; raw materials
b. capital; skilled labor
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Encouraging international trade will
A) slow economic growth as many workers lose their jobs to foreign workers. B) speed economic growth as workers specialize and trade with others. C) speed economic growth because international trade limits the harm done by property rights. D) slow economic growth when a country is forced to specialize and trade with other countries. E) speed economic growth as workers diversify their knowledge and limit trade.
If the United States imposed a quota on the amount of salmon imported from Chile, the result would be ________ salmon prices in the United States and ________ in the quantity of salmon demanded in the United States
A) higher; an increase B) higher; a decrease C) lower; an increase D) lower; a decrease E) higher; no change