A less-developed country would probably use ___________ to argue for trade restrictions
a. national security
b. infant industry
c. protection of workers from cheap foreign labor
d. antidumping
e. increased efficiency
B
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Suppose that a bond promises to pay $107 next year but the interest rate falls from 7 percent to 3 percent per year. How much will the price of the bond be and why?
What will be an ideal response?
What happens to real money demand (rise, fall, no change) due to a change in each of the following factors?
(a) A tax on stock market transactions is introduced. (b) Computerized bond trading reduces transactions costs. (c) People's average level of wealth rises. (d) The threat of a recession increases the riskiness of stocks and bonds. (e) The interest rate paid on checking account balances declines. (f) The price level falls in a one-time jump.
If Massage R Us, a spa chain specializing in massage, offers a lower price for a massage to senior citizens, this is an example of ________.
A) second-degree price discrimination B) first-degree price discrimination C) third-degree price discrimination D) zero-degree price discrimination
In an environment of tournament pay, it is quite likely that marginally more productive employees will receive
a. less than their marginal revenue product, while less productive employees receive more than theirs. b. more than their marginal revenue product, while less productive employees receive less than theirs. c. more than their marginal revenue product, as do less productive employees. d. less than their marginal revenue product, as do less productive employees.