Suppose Foreign Shrimp Prices Drop by 32 Percent and Importers

question 80

Multiple Choice

Suppose foreign shrimp prices drop by 32 percent and importers gain a 90 percent market share. From this information, what would economists strongly suspect about this industry?

• A) Foreigners have a comparative advantage in shrimping.
• B) Americans have a comparative advantage in shrimping.
• C) Foreign sellers probably are colluding on price to maximize profits.
• D) The large sales of foreigners indicate that they are better strategic bargainers than Americans are.

Recognize appropriate methods for repairing a leaking tire due to rim damage.

Compare different heavy truck wheel types and their suitability for various environments.

Understand the advantages of different wheel types, including cast spoke and hub-piloted disc wheels.

Know the specifications and uses of cast spoke wheels, including spoke number and application.

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Definitions:

Federal Labor Law

Legislation that regulates the rights and duties between employers and workers at the national level.

Majority Vote

A voting requirement that more than half of the votes cast by members entitled to vote are necessary to make a decision or pass a proposal.

Floral Workers Union

A labor union representing the interests and rights of workers within the floristry industry.

Labor-Management Relations Act

A law, also known as the Taft-Hartley Act, that regulates the relations between labor unions and employers.