Critics of trade adjustment assistance argue that:
A. the small fraction of workers losing jobs to international trade are no more deserving of assistance than others suffering job loss.
B. it raises prices for consumers.
C. it keeps firms operating in industries where they are no longer competitive.
D. it reduces the incentive for firms to invest in new technologies to maintain competitiveness.
A. the small fraction of workers losing jobs to international trade are no more deserving of assistance than others suffering job loss.
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At the XYZ Co, a unit of capital costs three times as much as a unit of labor. If MPK = 10, MPL = 5, then this firm
A) is minimizing its cost at current output level. B) should use more capital and less labor to raise output at current cost. C) should use less capital and more labor to raise output at current cost. D) None of above.
The nation's largest cable TV company tested the effect of a price reduction for premium movie channels. It increased prices from $20 to $30 per month and found virtually no change in the number of customers. This means: a. the demand curve for the premium movie channels shifted to the right
b. the supply curve for premium movie channels shifted to the left. c. the demand for premium movie channels is very elastic in this price range. d. the demand for premium movie channels is very inelastic in this price range.