One claim that trade barrier proponents use to enforce environmental standards is that
A) environmental standards do not reduce industrial competitiveness and do not induce race-to-the-bottom, where countries are forced to rescind their standards in order to maintain employment.
B) high standards in industrialized nations motivates some firms to "export pollution" to developing countries by relocating their dirty industries.
C) enforcing environmental standards is essential, as there are no differences between labor standards and environmental standards.
D) all environmental impacts are non-transboundary.
E) None of the above.
B
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In general, the fed funds rate
A) moves in the direction suggested by the Taylor rule. B) moves in the opposite direction as suggested by the Taylor rule. C) is uncorrelated with the Taylor rule prediction. D) None of the above.
One of the major insights by economist John Maynard Keynes about inventories and demand was that if planned inventories:
A. > actual inventories then demand was higher than anticipated. B. < actual inventories then demand was lower than anticipated. C. = actual inventories then demand was higher than anticipated. D. > actual inventories then demand was lower than anticipated.
John is an athlete. He has $120 to spend and wants to buy either a heart rate monitor or new running shoes. Both the heart rate monitor and running shoes cost $120, so he can only buy one. This illustrates the principle that
a. trade can make everyone better off. b. people face trade-offs. c. rational people think at the margin. d. people respond to incentives.
Which of the following examples is most likely part of the underground economy?
a. Sam opens a hot dog stand at a busy intersection of a city. b. Avery trades in a used car to an automobile dealership. c. Hudson earns money going from house to house offering to shovel snow. d. Chloe sells official team souvenirs outside of a ballpark.