Regulation Q was repealed in the __________ by the __________
A) early 1970s; Garn-St. Germain Act
B) late 1970s; Depository Institutions Deregulation and Monetary Control Act
C) late 1980s; Reigle-Neil Act
D) early 1980s; Depository Institutions Deregulation and Monetary Control Act
D
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If nations erect tariffs and quotas to restrict trade, what is likely to happen to predicted values of currencies drawn from the purchasing power parity theory?
a. They will be understated for tariffs and overstated for quotas. b. They will be overstated for tariffs and understated for quotas. c. They will be the correct values. d. They will be incorrect.
Javier is a member of a teachers union. The union recently failed to secure a wage increase as part of a new agreement. Instead, the wage will remain roughly 5 percent higher than comparable jobs in the nonunion sector. How will this affect Javier’s job security?
a. His job security will not change much because keeping wages constant will not create changes in demand for or supply of labor. b. His job will be less secure because the collective bargaining failure shows declining demand for teachers. c. His job will be more secure because it will drive many of the union teachers to find nonunion jobs. d. His job will be less secure because the announcement will lead to a large influx of nonunion teachers.
A firm is hiring resources X, Y, and Z in the profit-maximizing amounts when:
A. MRP x /P x equals MRP y /Py equals MRP z /P z equals 1. B. the sum of the MRPs of the three resources is at a minimum. C. the marginal revenue productivity of all three resources is the same. D. the marginal revenue product of the last dollar spent on each of the three resources is the same.
Jane is currently developing a model to explain the national unemployment rate. This is an example of
A) a microeconomic topic. B) normative analysis. C) positive analysis. D) how people act in an irrational manner.