A sudden increase in the U.S. price level
A) makes those with dollar debts worse off.
B) makes those with dollar debts better off.
C) does not affect those with dollar debts.
D) makes those with foreign debts better off.
E) increases all dollar debts.
B
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The law of demand implies that if nothing else changes, there is
A) a positive relationship between the price of a good and the quantity demanded. B) a negative relationship between the price of a good and the quantity demanded. C) a linear relationship between price of a good and the quantity demanded. D) an exponential relationship between price of a good and the quantity demanded.
Since the end of World War II,
A) tariffs around the world fell substantially. B) agricultural subsidies were significantly reduced. C) most nations began to apply tariffs uniformly across all industries. D) tariffs increased in low-income countries and fell a small percentage in high-income countries.
The wealth of most people declined as a result of the financial crisis of 2007-2009. As a result, which asset was most likely became a larger portion of their portfolio?
A) bonds B) stocks C) house D) checking account
You are the mayor of your home town, and one day you arrive at city hall to find angry voters demonstrating against you. They are mad because your office created a garbage-collection monopoly by awarding only one company a permit to collect garbage in
your town. The voters claim that the company is overcharging and providing poor service. They want you to do something that will lower rates and improve service. You call your staff economist, who presents evidence that there are substantial increasing economies of scale to garbage collection. What are your options if you are interested in efficiency?