There are asymmetric incentives to support and to oppose protectionist trade policies, with the stronger incentives going to those that would seek protection

Indicate whether the statement is true or false

TRUE

Economics

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Acme Steel Co produces 1000 tons of steel. Steel sells for $30 per ton. Acme pays wages of $10,000. Acme buys $15,000 worth of coal, which is needed to produce the steel. Acme pays $2,000 in taxes. Acme's contribution to GDP is

A) $15,000. B) $20,000. C) $30,000. D) $45,000.

Economics

A new technology that increases the productivity of teachers has what effect on the labor market for teachers?

a. The wage rate will rise, and quantity of teachers employed will fall. b. The wage rate will rise, and quantity of teachers employed will rise. c. The wage rate will fall, and quantity of teachers employed will fall. d. The wage rate will fall, and quantity of teachers employed will rise. e. There is not enough information to determine what effects there are, if any.

Economics