A firm is more likely to produce its own input if all of the following are true except which one?
A) The firm has trade secrets.
B) The firm experiences economies of scale when producing the input.
C) The firm is concerned about quality control.
D) The transportation cost of the input is inexpensive.
D) The transportation cost of the input is inexpensive.
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According to the monetarists, when the expected rate of inflation rises, the short-run Phillips curve
a. shifts upward. b. shifts downward. c. is unaffected. d. None of the above
Which of the following probably best explains why trade restrictions are imposed even if the costs to consumers are greater than the benefits to protected industries?
a. Indifference on the government's part to the interests of domestic workers b. A desire to make other countries suffer c. Government's desire to earn high revenues d. Successful lobbying by employers and workers in protected industries e. Government's preference to safeguard the interest of the producers at the expense of the consumers
At higher interest rates, people will hold more money.
a. true b. false
The official Federal Reserve strategy for implementing its monetary policy objectives is spelled out in the
A. Federal Open Market Committee (FOMC) Directive. B. Federal Advisory Committee (FAC) Statement. C. Federal Reserve Bank Cooperative (FRBC) Proposal. D. Federal Reserve Board (FRB) Decree.