In recent years, the amount of international trade in which the United States engages has
a. increased, raising domestic demand for unskilled labor.
b. increased, reducing domestic demand for unskilled labor.
c. decreased, raising domestic demand for unskilled labor.
d. decreased, reducing domestic demand for unskilled labor.
b
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Pigouvian taxation:
A. involves the use of taxes or fees to remedy negative externalities. B. involves the use of subsidies to remedy negative externalities. C. is a legal principle requiring a party who takes an action that harms others to compensate the affected parties for some or all of their losses. D. requires that victims of an externality pay a tax to the producers of the externality.
Regulation is guaranteed to be more efficient than a monopoly
A) True, the government is able to internalize the dead weight loss of the monopoly. B) True, the consumers are better off if government provides the product rather than a private firm. C) False, the government does not always have sufficient information to provide a more efficient market outcome. D) False, the consumers are worse off under government regulation.
Assume a fixed demand for money curve and the Fed decreases the money supply. In response, people will:
a. sell bonds, thus driving up the interest rate. b. sell bonds, thus driving down the interest rate. c. buy bonds, thus driving up the interest rate. d. buy bonds, thus driving down the interest rate.
Price discrimination is when a firm charges:
A. the same price to all consumers. B. different prices for different goods to different consumers. C. different prices for the same goods to different consumers. D. None of these is correct.