What is outsourcing?
A) The process of vertically integrating the factors of production.
B) The process of selling products overseas bypassing import tariffs.
C) The movement of production to affiliate firms outside of the country.
D) None of the above.
C
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Farmers can choose to produce eggs or milk. If there is an increase in the price of milk then what will be the effect in the egg market?
a. The quantity of eggs demanded will increase. b. Egg demand will decrease. c. Egg supply will increase. d. Egg supply will decrease.
What type of spillovers do the United States and the European Union governments believe are associated with their domestic solar panel production?
a. consumption spillovers b. heating spillovers c. electricity spillovers d. knowledge spillovers
The actual unemployment rate can be greater than or less than the natural rate of unemployment.
Answer the following statement true (T) or false (F)
Which of the following is NOT an inference of the rational expectations hypothesis?
A. Government policy actions that are anticipated have no real effects in the short run. B. Government policy actions have no real effects in the short run unless the actions are unanticipated. C. Government policy actions have no real effects in the long run. D. Government policy actions that are unanticipated have no monetary effects in the short run.