A flexible exchange rate between two countries is determined by
A. the International Monetary Fund.
B. the demand and supply of both countries' currencies.
C. Bretton Woods agreement.
D. the governments of both countries.
Answer: B
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Compared to the situation before international trade, after the United States imports a good production in the United States ________ and consumption in the United States ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
As a result of a tariff, domestic consumers buy
a. fewer units at a higher price. b. fewer units at a lower price. c. more units at a lower price. d. more units at a higher price.
Monopolistically competitive markets and monopoly market have a common characteristic: high barriers to entry.
Answer the following statement true (T) or false (F)
Which statement is true?
A. There are currently about 35 million labor union members in the U.S. labor force. B. About one out of every four sets of collective bargaining sessions ends in a strike. C. Union membership as a percentage of the labor force has been declining since the 1950s. D. None of the statements are true.