Many primary products from developing countries are hurt by
a. regional trade agreements
b. tariff escalation
c. effective protection
d. Part IV of the GATT
e. all of the above
B
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Frictional unemployment always exists because
A) some workers quit their jobs without having another job already lined up. B) the government has never instituted full employment policies. C) workers are lazy and refuse to accept certain jobs. D) recessions are necessary sometimes to keep the economy healthy.
Suppose that the nominal rate of interest is holding steady at 8 percent even as the anticipated rate of inflation rises. What is happening to the real rate of interest?
A) It is unchanged. B) It is increasing. C) It is decreasing. D) It equals the nominal interest rate.
Speculators profit by taking risks, while the actions of arbitrageurs involve no risk
a. True b. False
Over time in the long run we expect unplanned inventory expenditure to:
A. equal zero as planned inventories should equal actual inventories. B. increase because firms have a hard time figuring out what consumers want. C. be negative as firms will tend to reduce production is they think people won’t purchase their product. D. be positive as on average firms tend to be optimistic about sales, but if they don’t sell product they store it.