If a nation wants to maintain a fixed exchange rate at a time when supply and demand are causing an excess of imports over exports, the nation might
a. shift to a more expansionary monetary policy.
b. shift to a more restrictive monetary policy.
c. reduce its trade barriers (tariffs and quotas).
d. tax exports and subsidize imports.
B
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Why are economists less worried about industry concentration than they once were?
What will be an ideal response?
Labor unions are groups of:
A. employees who join together to bargain with their employer(s) over salaries and work conditions. B. employers who join together to create fair employment packages for employees within a certain geographical area. C. employers who petition the government to regulate the safety conditions of certain industries. D. employees who petition the government to oversee the employment conditions of employees who work for major corporations.
Which of the following phrases indicates that income is being spoken of?
A. Tuesday, at 12:30 p.m. B. July 14, 1948 C. From January 1 to March 30 D. Yesterday afternoon
Briefly explain the factors of production and give an example of each.
What will be an ideal response?