International trade policies are largely advocated, argued, and lobbied for based more on their distributional effects than on their aggregate or overall effects. What does this imply?
A) Producers will lobby for protectionism even though they may know that their gains from protectionism will be outweighed by the losses to consumers.
B) Consumers care more about how policies affect them than how policies affect them and everyone else, too.
C) Tariffs are more effective than quotas.
D) Consumers' surplus will rise (when it rises) more than producers' surplus will fall (when it falls).
E) none of the above
A
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The primary difference between the "payoff" and the "purchase and assumption" methods of handling failed banks is
A) that the FDIC guarantees all deposits when it uses the "payoff" method. B) that the FDIC guarantees all deposits when it uses the "purchase and assumption" method. C) that the FDIC is more likely to use the "payoff" method when the bank is large and it fears that depositor losses may spur business bankruptcies and other bank failures. D) that the FDIC is more likely to use the purchase and assumption method for small institutions because it will be easier to find a purchaser for them compared to large institutions.
Nicky makes $25,000 a year as a sales clerk. He then decides to quit his job to enter a MBA program full-time (assume Nicky doesn't work in the summer or hold any part-time jobs). His tuition, books, living expenses, and fees total $15,000 a year. Given this information, the annual total cost of Nicky's MBA studies is:
a. $10,000. b. $30,000. c. $40,000. d. $15,000. e. $25,000.
Frannie spends her income on rice and beans. At her optimum, Frannie's
a. utility from consuming rice is equal to her utility from consuming beams. b. marginal utility of rice is equal to her marginal utility of beans. c. marginal utility per dollar spent on rice equals her marginal utility per dollar spent on beans. d. marginal rate of substitution is equal to 1.
The heart of job analysis is _____ data.
A. job content B. job identification C. employee knowledge and skills D. tasks and experience