The European Commission is the European Union's ultimate decision-making body and is composed of the different ministers of the member countries.
a. true
b. false
b. false
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By selling products in both retail stores and outlet stores, firms can increase their profits by charging ________ prices to consumers with a low price elasticity of demand and ________ prices to consumers with a higher price elasticity of demand
A) higher; lower B) lower; lower C) higher; higher D) lower; higher
Tariffs provide domestic producers with incentives to be inefficient and operate on the basis of comparative disadvantage
Indicate whether the statement is true or false
Assume that the central bank purchases government securities in the open market. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real GDP and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. Real GDP falls, and reserve-related (central bank) transactions become more negative (or less positive). b. Real GDP falls and reserve-related (central bank) transactions remain the same. c. Real GDP and reserve-related (central bank) transactions remain the same. d. Real GDP rises, and reserve-related (central bank) transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
If the actual price level is above the expected price level, then workers' actual real wage will be below their expected real wage.
a. true b. false