Expansionary monetary policy affects domestic income in a way that causes:
A. exports to rise.
B. imports to fall.
C. imports to rise.
D. exports to fall.
Answer: C
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If the production possibilities frontier is a straight line, then the
A. opportunity cost of producing one good is zero. B. society is capable of producing only one of the goods and not the other. C. producer can produce more of both goods simultaneously. D. law of constant opportunity costs applies.
According to the textbook, price discrimination is
A) illegal. B) morally justified. C) net-revenue maximizing. D) unfair to the different groups of customers.
Economic engineering:
A. focuses exclusively on social factors that affect incentives. B. is a scientific approach to economics in contrast to the heuristic supply/demand model. C. is the process of designing markets and coordinating mechanisms to achieve a specific goal. D. simulates virtual economies on the computer and lets coordination mechanisms emerge.
Baxter International, a manufacturer of hospital supplies, acquired American Hospital Supply, a distributor of hospital supplies. This is an example of
A) a conglomerate merger. B) a horizontal merger. C) a vertical merger. D) a two-dimensional merger.