Refer to the above figure. Which panel represents the long-run supply curve for a decreasing-cost industry?
A. Panel A
B. Panel B
C. Panel C
D. Panel D
Answer: D
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Which of the following is a factor in determining the demand for the dollar on the foreign exchange market?
i. the exchange rate ii. interest rates in the United States and other countries iii. the expected future exchange rate A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
Refer to the figure above. With free trade, the total quantity of imports would equal
A) 10,000 units. B) 20,000 units. C) 22,000 units. D) 30,000 units.
Unions are exempt from U.S. antitrust laws
a. True b. False Indicate whether the statement is true or false
An example of a normative statement is:
A) The rate of unemployment is 4 percent. B) A high rate of economic growth creates more jobs for the country. C) The federal government spends half of its budget on national defense. D) Everyone in the country needs to be covered by national health insurance