Dumping refers to a country
A) imposing a retaliatory tariff against the subsidized products of a foreign country.
B) selling a good abroad at a price that is below its cost and lower than the price charged in the domestic market.
C) selling a good abroad at a price that is above its cost and higher than the price charged in the domestic market.
D) a and c
E) all of the above
B
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If the incomes of New Englanders increased and they demanded more tobacco, then tobacco would be:
a. a normal good. b. an inferior good. c. a substitute good. d. a complementary good.
Adverse selection occurs in the insurance market because:
A. the seller has more information than the buyer. B. the buyer has more information than the seller. C. both the buyer and the seller have incomplete information. D. Any of these could be the cause of adverse selection in insurance market.
Raul borrowed $1,000 from Marta for a year and agreed to repay her $1,050 at the end of the year. If the inflation rate was 3 percent, which of the following is the real rate of interest Marta received?
a. 10 percent b. 5 percent c. 3 percent d. 2 percent e. ?2 percent
Which of the following is true of the long-run aggregate supply curve? a. It is vertical
b. The level of RGDP supplied does not change as the price level changes. c. The level of RGDP supplied changes with the levels of capital, land, labor, and technology available to the economy. d. all of the above