Which question is an example of a microeconomic question?
A. What should the Federal government do to reduce the trade deficit with Japan?
B. Will the merger of two airlines likely lead to higher cost of air travel in the economy?
C. What factors are contributing to the steep rise in the federal government's total debt?
D. Will the inflation rate remain relatively stable this year?
Answer: B
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Which of the following is likely to happen if the government of a country lowers import tariffs?
A) The domestic producers will be safe from foreign competition. B) The revenue earned by the government will fall. C) The price of imported goods will rise in the domestic market. D) The volume of the country's imports will fall.
Which of the following most resembles a case of statistical discrimination?
A) Judy only hires military veterans because she believes it is her patriotic duty to do so. B) Due to the consequences of his behavior as a teenager, Marcel now hates police officers and refuses to hire any retired cops as security guards for his legal marijuana co-op in Denver. C) Barney thinks that people who attended public high schools have better social skills than people who were home schooled, so he tends to hire those with public school educations as telemarketers. D) Penelope believes her customers would be frightened away by salespeople with tattoos, so she only hires people with no visible body art.
Globalization has most likely occurred for which of the following reasons?
a. International agreements and treaties between countries have encouraged greater trade. b. Expanding cultural connections between people around the world. c. Expanding economics connections between people around the world. d. Increased military spending.
Assume that Currency 1 appreciated in terms of Currency 2 . Which of the following statements is always true?
a. Currency 2 appreciated as well in terms of currency 1. b. Currency 2 may have appreciated or depreciated in terms of currency 1. c. Currency 2 depreciated in terms of currency 1. d. Currency 2 appreciated in terms of any currency. e. Currency 2 depreciated in terms of any currency.