Niobium is now imported from other countries

Assignment Help Business Economics

Reference no: EM131009945

The last American niobium mine closed in 1959, and all U.S. niobium is now imported from other countries. This is:

A. bad for the United States because the U.S. must give money to other countries in order to obtain niobium.

B. bad for the United States because the niobium miners were put out of work.

C. good for the United States because the resources used to mine niobium are freed to do something for which the U.S. has a comparative advantage.

D. good for the United States because it is always better to import raw materials from other countries, and export finished goods.

Reference no: EM131009945

Questions Cloud

Cigarette-rolling machinery : In the early 1880’s cigarette-rolling machinery became available. Prior to this all rolling was done by hand. The machines dramatically cut the cost of rolling cigarettes. But they were not fully automatic—they needed the permanent presence of an ope..

Initial demand and supply curves for prescription drugs : Given the initial demand and supply curves for prescription drugs and an equilibrium price and (3) questions ) quantity, select from the list below the ones that the direction of change will be to the right. Consumers become more enamored with the wo..

Graph the firms total cost curve and fixed cost curve : Fashionable Designs, Ltd., plans to market a new sports blazer. Based on information provided by the accounting department, the company estimates fixed costs of $40,000 per year and average variable costs of: AVC = $1 + $0.001Q, where AVC is average ..

What effective annual interest-financing arrangement : If you purchase a $25,000 car, which is to be paid for in 60 monthly installments of $489.15, what effective annual interest are you paying for this financing arrangement?

Niobium is now imported from other countries : The last American niobium mine closed in 1959, and all U.S. niobium is now imported from other countries. This is bad for the United States because the U.S. must give money to other countries in order to obtain niobium. bad for the United States beca..

Suppose a firms short-run production function : Suppose a firm's short-run production function is given by Q = F(L) = 10L. L stands for number of workers. If the wage rate is $15 and the firm has sunk costs of $1000 what is the firm’s total cost function? Total cost should be a function of Q.

Why are firms are attracted to foreign markets : Why are firms are attracted to foreign markets, for example, to increase profits and revenues and to gain access to cheaper manufacturing. How may this affect the domestic country of the firm?

About the emerging markets project : Emerging Markets Project. Select an emerging market that you would like to learn more about (Not your country of origin). Start by compiling fundamental country data, then do additional research to flesh out the nature of the market opportunity offer..

Explain a economic indicator : Explain a/an economic indicator used to determine the health and direction of our economy. Discuss whether the indicator is cyclical or counter cyclical. What are some other indicators of how well the economy is doing not mentioned directly in the te..

User Account

All Pages