An exclusive supply contract is a contract between a firm and its input suppliers that requires the suppliers to sell only to that firm, not anyone else.
Answer the following statement true (T) or false (F)
True
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The passage of the Smoot-Hawley Tariff in 1930 sparked a trade war that caused net exports to ________ and real GDP to ________
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
In a small open economy, the real interest rate will always be
A) above the world real interest rate. B) below the world real interest rate. C) equal to the world real interest rate. D) independent of the world real interest rate.
In the United States, the distribution of income after the income tax is ____ the distribution of income before the income tax.
A. slightly less equal than B. about as equal as C. slightly more equal than D. a great deal more equal than
The assumption that eliminating one family member is presumed to have no effect on family income is realistic
Indicate whether the statement is true or false