The Foreign Corrupt Practice Act (FCPA) ________ facilitating payments that are ________ payments to government officials to expedite their work.
A) allows; small
B) does not allow; small
C) prohibits; small
D) allows; large
A) allows; small
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A fall in the level of prices
A) does not affect the value of money. B) has an uncertain effect on the value of money. C) increases the value of money. D) reduces the value of money.
An effective Federal Reserve operating target is a target that is reliably linked to
A) inflation and unemployment rates. B) other operating targets. C) fiscal policy. D) open market operations.
Microeconomics is primarily the study of how
A. people choose among alternatives. B. the stock market works. C. the economy functions as a whole. D. businesses can make money.
The figure below shows the U.S. market for imported wine. For simplicity, we consider export supply curves to be flat. Chilean wine is available for $480 per barrel and French wine is available for $420 per barrel.
Suppose the United States has a tariff of $80 per barrel on imported wine. Then, the United States joins a trade bloc with Chile. What is the net effect of joining the trade bloc on U.S. well-being?
A. The national welfare increases by $250 billion. B. The national welfare decreases by $800 million. C. The national welfare increases by $50 million. D. The national welfare decreases by $550 million.