During the first 6 months of 2008, the United States imported from Africa, Asia, and Latin America more than 1.6 billion pounds of coffee and did not export any coffee
How is the gain from imports distributed between consumers and domestic producers? A) U.S. producer surplus shrinks.
B) U.S. consumer surplus increases.
C) Total U.S. surplus increases.
D) All the above answers are correct.
D
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Inflation at a rate that exceeds 50 percent per month is called
A) megainflation. B) hyperinflation. C) super inflation. D) extreme inflation. E) skyflation.
Interest rates are positive because
A) people prefer future consumption over current consumption. B) people prefer current consumption over future consumption. C) usury laws require rates to be very high. D) banks are not competitive.
Which of the following would not explain why academic economists earn less than corporate economists?
a. more freedom in daily schedules b. less restrictions on attire c. less freedom in choice of research topics d. less control over their public statements e. None of the answers is correct.
The Sherman Antitrust Act:
a. prohibited restraint of trade. b. created the Federal Trade Commission. c. prohibited fraudulent advertising. d. regulated the railroads.