Complaints are often made to the International Trade Commission concerning foreign "dumping" practices. These complaints typically claim that
A) U.S. firms are harmed by the unfair pricing of foreign exporters.
B) foreign companies are charging exorbitant prices that are higher than the true value of the products.
C) foreign companies are charging prices that are lower than prices they charge countries other than the U.S.
D) U.S. consumers are harmed by the lack of quality control or health concerns in foreign countries.
E) U.S. consumers cannot differentiate between the foreign and domestic goods.
A
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The interest-rate-based approach to the monetary policy transmission mechanism says that a change in the money supply influences aggregate demand by
A) a change in interest rates, which changes investment. B) a change in interest rates, which changes the money supply. C) leading to shifts of the short-run aggregate supply curve. D) changing consumer consumption behavior as they adjust to a change in the number of dollars available.
Average fixed cost is: a. total cost divided by the number of units produced over a given period
b. total fixed cost divided by the number of units produced over a given period. c. the price of a fixed factor of production. d. fixed cost divided by the number of units of a fixed input employed over a given period.
Suppose Ben owns a small company that makes kites. The market for kites is perfectly competitive, and kites sell for $25 each. Ben's total production costs vary depending on the number of kites he makes each day, as shown in the accompanying table. Number of kites Per DayTotal Cost Per Day ($)0100111021263148417252006235 What is the profit-maximizing number of kites for Ben to make each day?
A. 0 B. 3 C. 5 D. 4
Do policies that alter the distribution of income also entail a change in property rights?
A) It is impossible to tell because of the uncertainty such policies create. B) Not if they are confined to changing relative prices. C) Not if they redistribute income without confiscating anyone's wealth. D) They do so necessarily.