The ________ analyzes the BOP and exchange rates in terms of money supply and money demand
A) elasticities approach
B) "pass-through of devaluation"
C) monetary approach
D) absorption approach
C
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If Joe receives an increase in his wage rate and decides to decrease his hours worked, the
A) substitution effect and the income effect must be equal. B) substitution effect must exceed the income effect. C) income effect must exceed the substitution effect. D) substitution effect must be zero.
Which of the following is least likely to limit the ability of a firm to minimize production costs?
A) Resistance by labor. B) The fact that the firm is a nonprofit organization. C) An increase in the amount of competition faced by the firm. D) Legislated input combinations for firms in particular industries, e.g, health care.
Unless markets are perfectly competitive, they may fail to maximize the total benefits to buyers and sellers
a. True b. False Indicate whether the statement is true or false
The inevitable cost of protecting domestic industries from foreign competition will be higher prices for domestic consumers.
a. true b. false