Firms entering a perfectly competitive industry will cause the price of the product to
A. fall.
B. rise.
C. remain constant.
D. become more responsive to consumer demand.
Answer: A
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The World Trade Organization
A) was set up to increase tariffs among nations. B) was set up to negotiate exchange rates between countries. C) was set up to decrease tariffs among nations. D) handles trade disputes among its member nations.
Suppose the United States decides to impose a $1,000 tax on every Japanese minivan sold in the United States. This is an example of
a. a tariff b. a subsidy c. comparative disadvantage d. the diversity of industry argument e. a quota
The equation of exchange is?
a. M x V = P x Y b. M x P = V x Y c. M x Y = V x P d. none of the above represent the equation of exchange
Refer to the following computer output from estimating the parameters of the nonlinear modelY = aRbScTdThe computer output from the regression analysis is: 
Based on the info above, the estimated value of a is
A. -0.6931 B. 2.66 C. 0.50 D. -3.67