Michigan Radio is the state's most listened-to public radio service, attracting approximately 400,000 listeners each week. How would Michigan public radio best be classified?
A) as a private good
B) as a common resource
C) as a natural monopoly
D) as a public good
D
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The interest parity condition requires that:
A) all countries have the same interest rate. B) there is a unique exchange rate for every output level. C) purchasing power parity hold. D) interest rates are fixed in the short run. E) the money supply is held constant.
If the U.S. Congress imposes a quota on imports of Japanese cars due to claims of "unfair" trade practices, and Japanese demand for American exports increases at the same time, then, in the long run ________, everything else held constant
A) the Japanese yen will appreciate relative to the U.S. dollar B) the Japanese yen will depreciate relative to the U.S. dollar C) the Japanese yen will either appreciate, depreciate or remain constant against the U.S. dollar D) there will be no effect on the Japanese yen relative to the U.S. dollar
From 1935 to 1950, inequality of money income was ______.
a. holding steady b. rising c. dropping d. worse than today
Consider Figure 12.3. David chooses to charge a low price:
A. only if Becky chooses a high price. B. only if Becky chooses a low price. C. regardless of whether Becky chooses a high or low price. D. in order to induce Becky to choose a high price.