The reservation wage is the minimum wage rate that an unemployed worker must receive before employment is accepted
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is a tool used for protectionism?
A) Service tax B) Bank rate C) Tariffs D) Open market operations
What will a U.S. corporation do if it believes that the dollar will continue to appreciate when it changes foreign earnings back into dollars?
What will be an ideal response?
Which of the following is an example of a normative - as opposed to a positive - statement?
a. The discount rate is the interest rate the Federal Reserve charges banks to borrow funds. b. The US income tax rate increases with the amount of income earned. c. The government should increase the tax on gasoline. d. The US unemployment rate increased to 10 percent in 2009.
Regulatory capture often occurs because of which of the following?
A) Patent law allows firms to gain monopoly power easily and therefore control a market. B) Government officials want stronger control over industry regulation. C) Consumer groups are effective at lobbying the government for industry regulation. D) Nearly everyone with expertise works in the regulated industry.