- Principles 1 S121/22 of EconomiCS What is the impact on the labour market due to a decrease in the demand for exports? Select one: labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher labour supply shifts to the left; wage rate increases and level of employment is lower Od. labour demand shifts to the left; wage rate decreases and level of employment decreases Nex page our on this page 乙 Type here to search home prt sc F8 64 F5 F4 F3 5.

- Principles 1 S121/22 of EconomiCS What is the impact on the labour market due to a decrease in the demand for exports? Select one: labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher labour supply shifts to the left; wage rate increases and level of employment is lower Od. labour demand shifts to the left; wage rate decreases and level of employment decreases Nex page our on this page 乙 Type here to search home prt sc F8 64 F5 F4 F3 5.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The United States currently is O A. a net borrower and has been since the end of World War II in 1945. B. a net lender and has been since the 1980s. C. a net lender and has been since the end of World War II in 1945. D. a net borrower and has been since the 1980s. O E. neither a net lender nor a net borrower.
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Suppose that United States produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week. Suppose that China produces 14329 barrels 14329 barrels of oil and 14329 bushels 14329 bushels of wheat each week. In autarky, what is the largest amount of wheat United States can consume every week? amount of wheat per week:___________ bushels What does the term autarky refer to? a. a major argument against globalization b. a situation where one country does not engage in trade with other c. countries d. the process of negotiating terms of trade between two countries e. government policies meant to reduce international trade
correctly explains question
The basic difference between macroeconomics and microeconomics is: O microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy O microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms O microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment
B.
FIGURE 1 Food 80 E 60 40 20 D G B 20 40 60 80 100 110 120 140 160 180 200 Clothing Refer to FIGURE 1. Point G on the graph represents O the same combination of products that is available at point C. a combination of products that reflects the existence of unemployed resources. O a combination of products that is beyond the economy's current production capability. O the combination of products that the economy is currently producing.
Course: Macroeconomics Assume that one day's labor in Argentina can produce either 20 units of cloth or 2 units of wine, while in Chile one day's labor can produce either 24 units of cloth or 12 units of wine. Question: What would you suggest each of these countries produce? Explain your answer. (Make sure to include the amount of cloth and amount of wine each country should produce.)