If the U.S. dollar appreciates relative to the British pound, then ________.
A. the pound will appreciate relative to the U.S. dollar
B. British goods will be more expensive for Americans
C. the pound will depreciate relative to the U.S. dollar
D. American goods will be less expensive for the British
Answer: C
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A performance-based standard
a. specifies a pollution limit and lets polluters select the technology to achieve that limit b. is less flexible than a technology-based standard c. designates the equipment or control method to be used for pollution abatement d. none of the above
What is meant by petrodollar recycling? Explain the mechanism by which this phenomenon occurred. What were the consequences of this phenomenon for developing countries?
What will be an ideal response?
Gordon argues that individual workers and firms prefer long-term contracts, but that such contracts
A) raise the costs of doing business, a macroeconomic externality. B) insure that output alone is adjusted as AD changes and therefore, such contracts impose high costs of output and employment instability on society. C) insure that the price level alone is adjusted as AD changes and therefore, such contracts impose high costs of output and employment instability on society. D) insure a macroeconomic externality, rigid unemployment.
In Munn v. Illinois (1877), the Supreme Court held that:
a. state laws limiting prices charged by grain elevators were a violation of the Fifth Amendment. b. grain elevator and freight prices could only be regulated by the federal government. c. states have a right to regulate businesses within the state that are "clothed with a public interest.". d. organizations like the Grangers violated federal conspiracy laws.