What is the shape of the long-run supply curve in an increasing-cost industry?
A) horizontal
B) inverted U-shape
C) downward sloping
D) upward sloping
Answer: D
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Attempts to influence the law for your own private economic advantage is called
A) tax imposition. B) subsidizing. C) rent seeking. D) creating a deadweight loss.
In the above, which figure(s) show(s) a relationship between the variables that is always negative?
A) Figure A only B) Figure D only C) Figures A and C D) Figures A, C, and D E) Figure B only
The main difference between a sterilized intervention and unsterilized intervention in the foreign exchange market is:
A) a sterilized intervention is coordinated with other nations B) an unsterilized intervention does not change the exchange rate C) an unsterilized intervention does not change the monetary base D) a sterilized intervention does not change the monetary base
Which of the following stands true for income inequality?
a. The benefits of increased economic growth are widely shared in the First World countries. b. As a result of globalization, income inequality in China has decreased. c. The decrease in income inequality in China is an effect of socialist policies in that country. d. The gap between rich countries and globalized developing countries has shrunk. e. Internal migration has played a big role in reducing the income inequality in China.