Dumping means selling goods in a foreign market at lower prices than those charged in the home market.
Answer the following statement true (T) or false (F)
True
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Part of the decrease in real wages during the Civil War was due to deteriorating productivity because of ___
a. the inability of firms to replace machinery b. the need to use inexperienced workers c. the decline in coal production d. excessive days lost due to strikes
In long-run equilibrium, a monopolistically competitive firm will produce
a. at the minimum average cost b. at full capacity c. along the downward-sloping portion of its ATC curve d. along the upward-sloping portion of its ATC curve e. at the minimum of marginal cost
The capital account is the sum of the merchandise, services, and unilateral transfers accounts
a. True b. False Indicate whether the statement is true or false
According to the Phillips curve, unemployment will return to the natural rate when:
a) Nominal wages are equal to expected wages b) Real wages are back at long-run equilibrium level c) Nominal wages are growing faster than inflation d) Inflation is higher than the growth of nominal wages