Which of the following is a main factor that explains the differences in the incomes of U.S. households?
A. inheritances
B. luck and misfortune
C. discrimination
D. All of these
Answer: D
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Suppose sugar is exported from a nation. In the sugar market who does NOT benefit from the exports?
A) domestic consumers B) domestic producers C) workers in the industry D) foreign consumers
A temporary supply shock that raises prices will cause the real interest rate to
A) rise in both the short and long runs. B) rise in the short run but not in the long run. C) fall in both the short and long runs. D) fall in the short run but not in the long run.
Currency devaluation _______import consumers because______
a. Helps; imports are more expensive b. Hurts; imports are more expensive c. Helps; imports are less expensive d. Hurts; imports are less expensive
A monopoly may arise due to:
A. a patent. B. network externalities. C. large economies of scale. D. All of these