The great Franco-American cheese war of 2009 began with:
A. beef.
B. Swiss cheese quotas.
C. camembert cheese tariffs.
D. cheddar cheese import restrictions.
Answer: A
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Assume that the Fed lowers the required reserve ratio. How will this affect the money supply?
a. It would decrease. b. It would increase. c. It would remain unchanged. d. It depends on the value of interest rates.
Suppose coal is mined at a zero marginal cost and is priced competitively. If the price of coal is growing faster than the interest rate, then coal miners
a. are making positive economic profits. b. will increase the amount of coal left unmined. c. should extract more coal now and less coal in the future. d. will exit the industry in the long run.
(Consider This) Suppose that a large tree on Betty's property is blocking Chuck's view of the lake below. Betty accepts Chuck's offer to pay Betty $100 for the right to cut down the tree. This situation describes:
A. the Coase theorem. B. the optimal allocation of a public good. C. nonrivalry and nonexcludability. D. a market for externality rights.
What is a corporate bond and what does it specify?
What will be an ideal response?