A wage-price spiral is the result of
A. lower wages and higher prices.
B. higher wages and lower prices.
C. higher wages and higher prices.
D. lower wages and lower prices.
C. higher wages and higher prices.
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Given that Mattie could convincingly threatens to always fight, what would be Irene's best response
a. Enter b. Not Enter c. Run d. Hide
Changes in the price of oil
a. can only lead to recessions. b. have not contributed much to output fluctuations in the United States. c. change the economy principally by changing aggregate demand. d. created both inflation and recession in the United States in the 1970s.
Figure 9.3 represents the market for used refrigerators. Suppose buyers are willing to pay $300 for a plum (high-quality) used refrigerator and $100 for a lemon (low-quality) used refrigerator. Initially buyers believe that 50% of used refrigerators in the market are lemons (low quality). Compared to the outcome with neutral expectations, how many fewer refrigerators are sold in equilibrium?
A. 50 B. 125 C. 175 D. 250
The contention that domestic unions tend to want to restrict foreign competition with tariffs is
A. dumping. B. a national defense concern. C. the infant industry argument. D. to protect domestic jobs.