A tariff
a. lowers the domestic price of the exported good below the world price.
b. keeps the domestic price of the exported good the same as the world price.
c. raises the domestic price of the imported good above the world price.
d. lowers the domestic price of the imported good below the world price.
c
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Adverse selection is more likely when
a. a job requires specific training b. a job requires intangible or unmeasurable abilities c. the wage offered is above the average of all wages in the market d. the wage is based on true marginal revenue products e. performance can be monitored closely
Suppose a bank has $5,000,000 in deposits, a required reserve ratio of 20 percent, and total reserves of $1,000,000. Then the bank has excess reserves of
A. $1,000,000. B. $0. C. $2,000,000. D. $500,000.
If Wrex can produce more math problems per hour and more book reports per hour than Maxine can, then Wrex cannot gain from trading math problems and book reports with Maxine
a. True b. False Indicate whether the statement is true or false
What role does the interest rate play in the economy? Is the distinction between real and nominal interest rates an important one in discussing these roles?
What will be an ideal response?