The United States was taken off the gold standard by
A) President Lyndon Johnson.
B) President Richard Nixon.
C) President Ronald Reagan.
D) President Jimmy Carter.
Answer: B
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The imposition of a tariff on imported wine will increase the domestic price of wine, decrease the quantity of wine imported, and increase the quantity of wine produced domestically
a. True b. False Indicate whether the statement is true or false
A firm with market power has an individual consumer demand of Q = 20 ? 4P and costs of C = 4Q. What is the optimal amount of this product to package in a single block?
A. 4 B. 5 C. 3 D. 2
Refer to Scenario 9.4 below to answer the question(s) that follow. SCENARIO 9.4: Sponsors invest $100,000 in a new deli on the promise that they will earn a return of 10% per year on their investment. The deli sells 52,000 sandwiches per year. The deli's fixed costs include the return to investors and $42,000 in other fixed costs. Variable costs consist of wages ($1,000 per week) plus materials, electricity, etc. ($2,000 per week). The deli is open 52 weeks per year.Refer to Scenario 9.4. Suppose the average price per sandwich is $5.50. What is the annual profit of the deli?
A. -$22,000 B. $78,000 C. $130,000 D. $244,000
If workers and firms ignore inflation or form their inflation expectations adaptively, expansionary monetary policy will lower unemployment permanently
Indicate whether the statement is true or false