Which of the following properties is seen in a buy-sell transaction arranged by a pipeline?
a. Pipelines offer to resell gas to consumers even at a loss.
b. Gas producers offer to sell gas to the pipelines at a discounted prices.
c. Gas producers ration the amounts they supply to the pipelines.
d. Pipelines evade the legal ceiling on their transportation charge by bundling the gas with transportation service.
D
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The Taft-Hartley Act of 1947 made
A) union shops illegal. B) closed shops illegal. C) sympathy strikes legal. D) secondary boycotts legal.
Under the gold standard, all except one of the following are true. Which is not true?
a. Paper currency was convertible into gold at a fixed rate. b. A balance-of-payments deficit would result in a loss of gold. c. A balance-of-payments surplus would result in an inflow in gold. d. The money supply of any country was largely determined by flows of gold. e. A surplus country experienced a rise in its money supply and a drop in its price level.
A negative externality is a situation where: a. a third party suffers from a market transaction by others
b. a third party benefits from a market transaction by others. c. a market is able to maximize net social welfare. d. there is an increase in the private cost of a market transaction.
Which of the following is a true statement about U.S. job gains and losses under free trade agreements?
A) Whether jobs have been gained or lost, the size of these gains or losses is small relative to total U.S. job creation. B) Free trade agreements have resulted in a significant loss of jobs in the U.S. C) Free trade agreements have resulted in a significant gain in jobs in the U.S. D) Free trade agreements have resulted in no change in jobs in the U.S.