Which of the following is NOT a commitment device?
A. A pre-nuptial agreement that provides for a large penalty in the event a spouse has an affair.
B. A non-refundable advance payment to reserve a room at a resort.
C. High fines for illegal parking on campus.
D. A manufacturer's 2-year agreement to fix, at no cost to you, anything that breaks on your computer.
Answer: C
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Refer to the figure above. How many chairs were imported by Lithasia before the tariff was imposed by the government?
A) 25 units B) 50 units C) 55 units D) 60 units
Refer to the accompanying figure.
Based on the figure, when PAE = 600 + 0.5Y, short-run equilibrium output equals:
A. 600. B. 400. C. 800. D. 1,200.
When the receipts given by goldsmiths to depositors were used to make purchases:
A. existing banking laws were violated. B. the receipts became in effect paper money. C. the gold standard was created. D. a fractional reserve banking system was created.
Immigration has _____ our rate of economic growth.
A. increased B. slowed C. had no effect on