The FE line is vertical because the level of output at full employment doesn't depend on the
A) real wage rate.
B) level of employment.
C) marginal product of labor.
D) real interest rate.
D
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A tariff differs from a quota in that a tariff is
a. levied on imports, whereas a quota is imposed on exports. b. levied on exports, whereas a quota is imposed on imports. c. a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported. d. a tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported.
Explain what a “cap and trade” program is and how it works. Does the United States have a cap and trade program? If so, is it successful?
What will be an ideal response?
For endangered species, the federal government
A) can only protect the animal on federal property because of common property issues. B) has the right to regulate activities on private land to save the species from extinction. C) turns over the protection of an endangered species to the state authorities where the species lives. D) will capture a pair of animals so that the species does not become extinct.
Which of the following is true for forward foreign exchange contracts?
A. They are used mostly to offset net asset positions held in the foreign currencies. B. Common dates for future exchange are 50, 100, and 150 days forward. C. The actual currency exchange occurs after one week from the stated time period. D. They can be used for both speculation and hedging.