Demand-pull inflation is associated with:
A. decreasing total spending (demand).
B. increasing total spending (demand).
C. decreasing costs of production (supply).
D. increasing costs of production (supply).
Answer: B
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The Trans-Pacific Partnership (TPP) would ________ tariffs on most goods and services shipped between partnership countries and also ________ so-called non-tariff barriers to trade, such the licenses governments require to import some goods
A) lower; raise B) raise; raise C) eliminate; reduce D) lower; eliminate
The ratio of a country's average export price to its average import price is
(a) its absolute advantage. (b) its comparative advantage. (c) its terms of trade. (d) its exchange rate.
Savers have less incentive to care what their bank is doing with their money because their deposits are federally insured. This is a problem of
a. nominal interest b. adverse selection c. moral hazard d. the winner's curse e. a positive externality
In which case will the transition from short run to long run involve the shortest chronological time?
a. a service that provides temporary secretaries to companies b. an automobile factory c. a farm d. an electric utility