A foreign firm that is selling below cost and is accused of dumping often:
a. lowers its price further to increase the tariff imposed.
b. moves its production to the importing nation to avoid the tariff completely.
c. raises its export prices to reap the rents and avoid the antidumping tariff completely.
d. calls for a ruling by the WTO.
Ans: c. raises its export prices to reap the rents and avoid the antidumping tariff completely.
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By designating Federal Reserve currency as legal tender, the federal government
A) has ensured that Federal Reserve currency will serve as money. B) has guaranteed that Federal Reserve currency may be exchanged for an equivalent amount of gold or silver. C) has mandated that Federal Reserve currency be accepted for payment of debts. D) has mandated that Federal Reserve currency be accepted by citizens of foreign countries in exchange for their countries' currencies.
Along the Keynesian range of the aggregate supply curve, an increase in the aggregate demand curve will increase:
A. both the price level and real GDP. B. only real GDP. C. only the price level. D. real GDP and reduce the price level.
What factors increase potential GDP? Include a definition of potential GDP in your answer
What will be an ideal response?
When the 2010 Patient Protection and Affordable Care Act is fully implemented, it will
a. substantially reduce the share of health care expenses paid by a third party. b. require all Americans to purchase health care insurance from either a private or government source. c. increase the competitiveness of the health insurance business by allowing people to purchase the insurance across state boundaries. d. reduce the demand for health care and thereby lead to lower prices for health care services.