Category: Uncategorized

The child labor argument is still relevant, as we do see use of child labor in the developing world.  

Sometimes trade barriers are imposed to punish other nations. 

At one point, a woman from Georgia goes to a park to hang a sign. The purpose of the sign is to: 

Which of the following illustrates the concept of outsourcing? Check all that apply. 

The Jones Act of 1920 best illustrates the environmental argument for trade barriers. 

Politicians agree that the Jones Act is fully relevant today, even though is almost a century old. For this reason, Congress has not made any moves to discuss it further. 

We run a trade deficit with Mexico, meaning that we import more than we export. 

The absolute PPP exchange rate between USA and Mexico is 19.85 Pesos/1 dollar.  You know that it costs $371 to buy a certain “basket” of goods in the USA. Absolute PPP says that you would need ______ Pesos to buy the same bundle in Mexico. (Round to 2 digits behind the decimal.)

The World Bank funds itself by imposing a small tax on all international flights and the cost is absorbed by passengers in their airline ticket price. 

The USA is ranked #3 in terms of inequality in income in the industrialized world. There are only 2 countries in the industrialized world with greater inequality of income.