The current account balance is equal to net exports ________ net interest ________ net transfers
A) plus; minus
B) minus; minus
C) minus; plus
D) plus; plus
E) multiplied by; multiplied by
D
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When Congress established the Federal Reserve in 1913, what was its main responsibility? When did Congress broaden the Fed's responsibilities?
What will be an ideal response?
According to empirical observations, the cost of restricting international trade in the U.S. is much greater than the benefits generated from restriction. In the light of the above observation, which of the following statements is true?
a. The benefits of protecting domestic jobs typically outweigh the costs. b. Consumers end up paying much more for the goods they buy in order to subsidize the relatively inefficient domestic producer. c. U.S. GDP would be over $14 billion higher with import restrictions than without restrictions. d. Protection of the U.S. textile and sugar industries means that all consumers pay a lower price for clothing and sugar. e. Protection of the domestic industries enable the producers to charge lower prices for their products.
When colluding oligopolists meet and formally agree on mutually beneficial strategies this is called
a. implicit exclusion b. beneficial inclusion c. reciprocal inclusion d. implicit exclusionary pricing e. explicit collusion
Is it ever rational for unions to strike if they know that their members will never be able to make up for the wages they lose during the strike? Explain