For those nations who fixed their currencies' exchange rates to the U.S. dollar, the rise of the dollar during the 90's was very good news,
a. True
b. False
Indicate whether the statement is true or false
False
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Mixed bundling is
a. Where customers pay for each item separately b. Where customers buy all item in a store at one price c. Where customers have a choice of buying each item separately or all items at one price d. Where customers are charged one fixed fee and a cost per unit for every unit bought
An advance in technology which increases labor productivity will shift the:
A. labor demand curve to the left. B. MFC curve to the left. C. MP curve downward. D. labor demand curve to the right.
The profit maximizing behavior of a monopoly is different from that of a perfectly competitive firm in that a monopoly can
A. only choose the desired output, while a competitive firm can control only price. B. control the position of its demand schedule, but a competitive firm cannot. C. control the desired price and output to maximize profits, but a perfectly competitive firm can only choose the desired output. D. only choose the desired price, while a competitive firm can control only output.
In 1993, the debate heated up in the United States about the North American Free Trade Agreement (NAFTA), which proposed to reduce barriers to trade (such as taxes on or limits to imports) among Canada, the United States, and Mexico. Some people opposed strongly the agreement, arguing that an influx of foreign goods under NAFTA would disrupt the U.S. economy, harm domestic industries, and throw American workers out of work. How might a classical economist respond to these concerns? Would you expect a Keynesian economist to be more or less sympathetic to these concerns than the classical economist? Why?
What will be an ideal response?