In Sweden
A. the government has kept unemployment low by offering industry and workers a series of subsidies and incentives.
B. education is free from nursery school through college.
C. women may take a year off work after child birth while receiving 80 percent of their pay.
D. All of the choices are true.
D. All of the choices are true.
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When a government imposes a tariff on imported beer, cooperative surplus ________ and society gets ________
A) increases; richer B) increases; poorer C) decreases; richer D) decreases; poorer
The labor supply curve faced by an individual firm in a perfectly competitive market is
A) upward sloping. B) horizontal. C) vertical. D) downward sloping.
Answer the following statements true (T) or false (F)
1. In the market for sushi, an increase in supply and a greater decrease in demand will cause both the equilibrium price and quantity to decrease. 2. In the market for sushi, an increase in the price of fish along with an increase in the popularity of sushi among consumers will cause the equilibrium quantity to increase, but the effect on the equilibrium price is indeterminate. 3. In the market for gasoline, if the change in demand due to the start of the summer driving season is greater than the change in supply due to disruptions in the refinery operations in the Gulf, then the equilibrium quantity will increase. 4. In the market for crude oil, if the change in demand due to falling price of natural gas (a substitute for oil) is greater than the change in supply due to disruptions in oil-well operations in the Middle East, then the equilibrium price of oil will decrease. 5. In the foreign exchange market, if Canadian companies import more products from the U.S., then the demand for Canadian dollars will increase.
Assume that policy makers are pursuing a fixed exchange rate regime. Assume that the economy is initially operating at the natural level (i.e., Y = Yn). Suppose a reduction in wealth causes households to reduce consumption. This wealth-induced decrease in consumption will cause which of the following to occur?
A) The real exchange rate will be permanently higher in the medium run. B) The real exchange rate will be permanently lower in the medium run. C) The effects of this devaluation on the real exchange rate will be ambiguous in the medium run. D) The real exchange rate will be unchanged in the medium run.