A Japanese recession will be counteracted by an appreciation of the Japanese yen
a. True
b. False
Indicate whether the statement is true or false
False
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Most of the dollars that foreigners have obtained because of our huge current account deficit
A. circulates in foreign countries. B. are used as reserves. C. are invested in the United States. D. are used to pay off old debts to the United States.
The harmful effect of a price ceiling to ________ is ________.
A. producers; the selling price of the product is above the equilibrium price B. consumers; the ceiling creates a shortage of the product C. producers; the ceiling creates a surplus of the product D. consumers; the selling price of the product is above the equilibrium price
If there is a monopsony operating in the labor market illustrated in the figure above, the equilibrium wage and quantity of labor hired is
A) $15 and 50 hours. B) $10 and 100 hours. C) $10 and 50 hours. D) $5 and 50 hours.
If the voluntary contributions experiment described at the end of the chapter is played multiple times, we would expect:
A. the voluntary contributions will be zero or close to zero. B. the voluntary contributions will exceed the amount required to provide the public good. C. the voluntary contributions will equal the amount required to provide the public good. D. the voluntary contributions will fall short of the amount required to provide the public good, but only by a small amount.