Mr. Paque is a bear hunter for timber companies that want to diminish damage to trees done by bears in the spring. Due to a reduction in the bear population between 1995 and 2005, Mr. Paque finds fewer bears each year and additional hours spent hunting produce fewer additional bears. With the information given and noting that the bounty on bears has risen, one can conclude that (i) Mr. Paque's
income per hunting hours will fall; (ii) the derived demand for Mr. Paque's services will shift left.
a. i and ii
b. i not ii
c. ii not i
d. neither i nor ii
c
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Of the following, who is harmed by a tariff?
A) domestic buyers of the good or service B) the overall domestic economy C) the foreign exporter of the good or service D) domestic producers of the good or service E) Both answers A and B are correct.
Corporate advertising:
A. makes consumer sovereignty meaningless. B. cannot affect consumer sovereignty. C. may undermine consumer sovereignty. D. may reinforce consumer sovereignty.
One of the agencies responsible for enforcement of antitrust policy is
A. the Trust Division of Congress. B. the Food and Drug Administration. C. the Federal Trade Commission. D. the World Trade Organization.
The aggregate price level is a topic of macroeconomics.
Answer the following statement true (T) or false (F)