The time it takes a change in economic policy to induce people and firms to change their behavior is the implementation lag.
Answer the following statement true (T) or false (F)
False
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Approximately what percentage of the World Bank's loans go to developing nations in the East Asia/Pacific and South Asia regions combined?
A) 10% B) 40% C) 100% D) 70%
Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at 20¢ per pound when 500 pounds are grown. If the long-run supply curve is horizontal, then
A) some firms will enjoy long-run profits because they operate at minimum average cost. B) the long-run price will be 20¢ per pound. C) each consumer will purchase $100 worth of potatoes. D) the long-run price will be set just above 20¢ per pound.
Which of the following is an example of vertical integration?
a. An industrialist building new plants in a country where operation costs are low. b. A cosmetic company collaborating with worldwide retailers to market its product. c. A fruit juice manufacturer purchasing orchards. d. An exporter delivering goods at a contracted price.
The Sherman Act of 1890 outlawed:
A. Monopoly pricing and foreign trade B. Price discrimination and monopoly profits C. Restraint of trade and monopolization D. Foreign trade and monopolization