In the 1970s, the U.S. economy ________
A) grew at a faster pace than in the previous decade
B) experienced low inflation
C) experienced increases in unemployment
D) all of the above
E) none of the above
C
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The productivity slowdown of the 1970s occurred:
A. only in the U.S, the United Kingdom, and Japan. B. only in the U.S. C. only in the U.S. and the United Kingdom. D. around the world.
Fixed exchange rates are often maintained in all of the following ways except ________.
A. controls on imports and exports, such as tariffs and quotas B. open speculation by individual traders in foreign currency markets C. domestic macroeconomic adjustments using monetary and fiscal policies D. international monetary reserves held by central banks
A photograph processing machine company requiring customers that buy a processing machine to purchase chemicals and photographic paper from them is an example of
A) bundling. B) a requirement tie-in sale. C) quantity discrimination. D) a two-part tariff.
As long as market price remains above the average total cost, and the firm chooses the profit-maximizing level of output, it will:
A. make profits. B. earn zero profits. C. make a loss. D. Any of these is possible.