Refer to Table 2-12. Honduras has a comparative advantage in the production of
A) sailboats. B) canoes. C) both products. D) neither product.
A
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Under current guidelines, the U.S. Department of Justice usually challenges
a. all mergers b. mergers in industries that would have a postmerger Herfindahl index greater than 1,800 c. mergers in industries that would have a postmerger Herfindahl index greater than 1,800 if the Herfindahl index increases by more than 100 points d. mergers in industries that would have a postmerger Herfindahl index greater than 1,000 e. mergers in industries that would have a postmerger Herfindahl index greater than 1,000 if the Herfindahl index increases by more than 100 points
The major objective of the 1986 tax reform was to: (i) enhance efficiency by lowering marginal tax rates; (ii) enhance equity by closing "loopholes."
a. i and ii b. i but not ii c. ii but not i d. neither i nor ii
Suppose expected inflation in the economy is 5%. Banks set nominal interest rates so they'll earn a 2% expected real return. Employers set nominal wages based on a 2% expected real wage increase
Suppose the nominal interest rate and nominal wages are determined this way, but actual inflation turns out to differ from the expected inflation rate. Calculate the actual real interest rate and the percent increase in the real wage for each of the following actual inflation rates: a) 2%; b) 5%; c) 10%.
Historians generally agree that the railroads
(a) were absolutely essential for industrial growth in the 19th century. (b) were an indispensable "leading sector." (c) were our first "giant" enterprises. (d) provided a "social saving" of 90% or more.