Consider a market that sells some of its goods as exports. Who does NOT benefit?
A) foreign consumers
B) workers in the industry
C) domestic consumers
D) domestic producers
Answer: C) domestic consumers
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Other things remaining the same, in the long run ________ in the quantity of money brings an equal percentage ________
A) a decrease; increase in the price level B) an increase; decrease in the price level C) a decrease; increase in the nominal interest rate D) a decrease; decrease in the price level E) an increase; increase in the real interest rate
On the modern Phillips curve, the initial impact of an increase in the world price of steel is shown by ________
A) an upward movement along the Phillips curve to a higher inflation rate B) an upward shift of the Phillips curve leading to higher inflation rates for any unemployment rate C) a downward shift of the Phillips curve leading to lower inflation rates for any unemployment rate D) a downward movement along the Phillips curve to higher unemployment rates E) none of the above
According to the figure shown, if Adidas charges a low price, then Nike should:
A. charge a high price.
B. leave the market.
C. charge a low price.
D. give an ultimatum.
If a new shopping mall is built on the outskirts of a town, we can expect
a. location rent on commercially developed, downtown land to be unaffected b. lands near the new mall to receive location rent c. commercially developed, downtown land rent to rise because competition for downtown lands will have weakened d. lands near the new mall to receive zero location rent e. location rent for commercially developed, downtown land to increase