All of the following are true of the HPAE EXCEPT
A) macroeconomic stability has been a high priority of their economic policies.
B) strong, credible commitments to sharing economic growth across all layers of society exist.
C) exports have been promoted while at the same time being more open to imports than other developing countries.
D) restrictions on imports of capital goods have helped to favor the development of domestic technology.
D
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Julie works at a local hat factory for $12 an hour and typically works 40 hours a week. The company threatens layoffs, so Julie and the others agree to a pay cut. Julie now earns $10 an hour and works every hour over 40 that her boss will let her. Julie's response to this pay cut was to work:
A. more, demonstrating a dominant income effect. B. more, demonstrating a dominant price effect. C. less, demonstrating a dominant income effect. D. less, demonstrating a dominant price effect.
Changing from a barter economy to a money economy can reduce transaction costs
Indicate whether the statement is true or false
When the U.S-foreign exchange rate appreciates in the short run and then depreciates slightly in the long run, it implies that the foreign money supply has:
a. temporarily risen. b. permanently risen. c. temporarily fallen. d. permanently fallen
Suppose that the price of a box of shotgun shells is $5. Morris's marginal cost of producing boxes of shotgun shells is $3.50 for the first box, Tommy's marginal cost of producing boxes of shotgun shells is $4 for the second box, Pat's marginal cost of producing boxes of shotgun shells is $5.50 for the third box, and Al's marginal cost of producing boxes of shotgun shells is $6 for the fourth box. In equilibrium, what is the producer surplus from producing boxes of shotgun shells?
A. $1.50 B. $2.50 C. $3.50 D. $4.00