The North American Free Trade Agreement and the European Union are examples of
A. labor agreements designed only for industrialized countries.
B. defense treaties.
C. regional trade blocs.
D. agriculturally based economies.
Answer: C
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An increase in the marginal tax rate
A) decreases the expenditure multiplier but cannot make it negative. B) has no effect on the expenditure multiplier. C) can either increase or decrease the expenditure multiplier. D) increases the expenditure multiplier. E) decreases the expenditure multiplier and can make it negative.
Allowing an inventor to have the exclusive rights to market her new invention will lead to (i) a product that is priced higher than it would be without the exclusive rights. (ii) desirable behavior in the sense that inventors are encouraged to invent. (iii) higher profits for the inventor
a. (i) and (ii) only b. (ii) and (iii) only c. (i) and (iii) only d. (i), (ii), and (iii)
Which of the following sellers is most able to perfectly price discriminate?
A) a college or university B) the post office C) a clothing store D) a grocery supermarket
If supply increases and demand does not change, then price
a. as well as quantities demanded and supplied will increase b. will decrease, and quantity demanded and supplied will increase c. will decrease, and quantity demanded and supplied will decrease d. and quantity demanded remain unchanged e. remains unchanged, but both quantities demanded and supplied will decrease If supply increases and demand does not change, then price