Consider the case of labor outsourcing and labor migration in tradeable goods markets with no barriers to trade.
A. In each country, labor outsourcing will result in the same wage changes as labor migration.
B. In each country, labor outsourcing will result in the same employment level changes as labor migration.
C. In each country, labor outsourcing will result in the same change in the demand for local public schools as labor migration.
D. Both (a) and (b)
E. Both (b) and (c)
F. Both (a) and (c)
G. All of the above.
H. None of the above.
Answer: A
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Figure 10.4 Federal Surplus or Deficit as a Percent of GDP
What will be an ideal response?
When the government's outlays exceed its tax revenue, the national debt
A) shrinks thanks to the budget surplus. B) grows to finance the budget deficit. C) shrinks thanks to the budget deficit. D) grows to finance the budget surplus. E) does not change because it has nothing to do with government outlays and tax revenue.