A typical firm in a cartel will hold which of the following attitudes?
A) If everyone cheats, I'm better off, and so is everyone in the cartel.
B) If I alone cheat, I'm better off; if everyone cheats, I'm worse off.
C) I can never do better for myself than following agreed-upon cartel rules.
D) If I suspect others are planning to cheat, I'll do best for myself by deciding not to cheat.
B
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The government of a country decides it long-run exchange rate and intervenes regularly in the foreign exchange market to keep the exchange rate at its fixed level. The country is most likely to have a ________
A) fixed exchange rate system B) dirty-float exchange rate system C) real exchange rate system D) floating exchange rate system
In the pre-World War I period, the United Kingdom imported mainly
A) manufactured goods. B) services. C) primary products including agricultural. D) technology intensive products. E) from the United States.
The critical value of F4,? at the 5% significance level is
A) 3.84 B) 2.37 C) 1.94 D) Cannot be calculated because in practice you will not have infinite number of observations
Measuring the effects of labor immigration shows:
a. that as workers move, they disrupt their families and cause huge costs in the recipient nation. b. that most immigrants spend months trying to find work. c. that immigration benefits the recipient nation by raising the marginal product of capital, expanding laborintensive production, and lowering prices of laborintensive goods. d. that immigration is very harmful to the host nation because of a huge increase in the unemployment rate