Taiwan exports tools to the United States. Consumers in Taiwan will probably pay a(n) ________ price for tools with free trade than they would with a closed economy.
A. somewhat lower
B. lower
C. more fair
D. higher
Answer: D
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In reality, the Fed's information is fairly imprecise in regards to:
A. unemployment B. actual real GDP C. potential GDP D. inflation rates
Refer to Table 9-4. Assume the market basket for the consumer price index has two products — meat and potatoes — with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A) 125. B) 129. C) 135. D) 141.
Government consumption expenditures equal
A) government outlays minus transfer payments. B) government outlays minus net interest payments. C) government purchases minus government investment. D) the government primary deficit plus net interest payments.
Happy Cows is bidding on a large piece of farm equipment to process their dairy products. The managers of Happy Cows have estimated the additional profit Happy Cows will earn from the piece of equipment and have valued the equipment at $125,000. Happy Cows' value of the farm equipment is ________.
A) a common value B) an independent private value C) a public value D) a correlated value