Despite the Obama administration's support of the Trans-Pacific Partnership (TPP), the AFL-CIO labor union has argued that the TPP will not
A) protect the environment.
B) ensure safe imports.
C) create jobs.
D) all of the above
Answer: D) all of the above
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What was the decline in the value of mutual funds held by households during the depths of the financial crisis, between the third quarter of 2008 and the first quarter of 2009
A) $2 million B) $2 billion C) $200 billion D) $2 trillion
All of the following are arguments against stabilization policy except
a. Economic forecasting is highly imprecise. b. Long lags may cause stabilization policies to in fact destabilize the economy. c. Monetary policy affects aggregate demand by changing interest rates. d. Fiscal policy must go through a long political process.
Exhibit 7-14 Cost curves
In Exhibit 7-14, economies of scale only exist for output levels up to:
A. 1,000. B. 2,000. C. 3,000. D. 4,000.
The above table depicts prices, quantities, and marginal costs faced by the campus bookstore. At the profit-maximizing level of output, what is the total revenue earned by the store?
A. $6 B. $5 C. $15 D. $12