Which of the following is NOT a likely result of intraindustry trade based on internal economies of scale?
A) Job creation at domestic firms entering international trade
B) Lower prices for the domestic consumers of the product now being traded
C) Increased sales and lower per unit costs for the firm doing the exporting
D) Higher prices for the exported product
D
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Suppose a powerful labor union negotiates a wage for its members above the equilibrium wage rate in a nonunionized market. A likely result of this is that
A. this firm will make up for the higher wage rate by expanding output. B. the union will have difficulty recruiting new members. C. not everyone who wants to work at the new wage will be able to find jobs. D. union members will be able to work more overtime than before.
In the figure above, suppose the economy is initially at point B. If people come to believe that the exchange rate will fall in the future, the supply of dollars ________ and the market moves to point such as ________
A) decreases; A B) decreases; E C) increases; D D) increases; C
You deposit a $1,000 scholarship check in the bank. If the required reserve ratio is 10 percent, explain how the banking system will create new money and how much money can potentially be created
The largest portion of the M1 money supply consists of
A. coins in circulation. B. paper currency in circulation. C. savings deposits at credit unions. D. checkable deposits.