The gap between real GDP per person in the United States and South America has been narrowing since 1980
Indicate whether the statement is true or false
FALSE
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If ball-bearing producers support proposed regulation of their industry, then it is likely that
a. ball-bearing prices will decrease under regulation b. profits of firms in the ball-bearing industry will decrease after regulation c. ball-bearing producers are concerned about the best interests of the public d. ball-bearing producers will not attempt to influence the adoption of the regulation e. consumers of ball-bearings will suffer from the proposed regulation
For this question, assume that the Marshall-Lerner condition does not hold. A reduction in the real exchange rate will tend to cause which of the following to occur?
A) a reduction in NX and a reduction in foreign output (Y) B) a reduction in NX and an increase in domestic output (Y) C) an increase in NX and a reduction in Y D) an increase in NX and an increase in Y E) none of the above
What are the main forces shaping today's economy, and how are they impacting the economy?
What will be an ideal response?
Collusion between two firms occurs when
A) the firms independently pursue strategies that could hurt each other. B) firms explicitly or implicitly agree to adopt a uniform business strategy. C) announce that each will match its rival's market price. D) firms act altruistically to bring about the economically efficient outcome.