The highest tariff rates of the twentieth century in the United States arose as a result of which law?
A) the Robinson-Patman Act
B) the Tariff of Abominations Act
C) the Wheeler-Lea Act
D) the Smoot-Hawley Act
Answer: D
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If it is said that a currency is undervalued against the dollar, it is meant that:
A) the dollar is worth more of that currency than it would have been under a fixed exchange rate regime. B) the dollar is worth more of that currency than it would have been under a flexible exchange rate regime. C) the dollar is worth less of that currency than it would have been under a fixed exchange rate regime. D) the dollar is worth more of that currency than it would have been under a managed exchange rate regime.
Suppose the accompanying figure shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
The profit-maximizing price for this monopolist to charge is:
A. A. B. E. C. C. D. B.
Explain the possible benefits of labor unions.
What will be an ideal response?
When the Fed sells securities through open market operations, the equation of exchange (under monetarist assumptions about V being stable) requires that either aggregate spending
A. Or prices increase, or both. B. Or prices decrease, or both. C. Decreases or prices increase, or both. D. Increases or prices decrease, or both.