When a good is put onto the global market at a price below the cost to produce it, this is known as
A) the infant-industry argument.
B) dumping.
C) a quota.
D) protection of domestic jobs.
Answer: B
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An increase in the interest rate results in
A) a smaller opportunity cost of investment and so planned investment spending decreases. B) a greater opportunity cost of investment and so planned investment spending increases. C) a greater opportunity cost of investment and so planned investment spending decreases. D) a smaller opportunity cost of investment and so planned investment spending increases.
The opportunity cost of labor is the time forgone for leisure
a. True b. False Indicate whether the statement is true or false
If the model of price-taking firms is so unrealistic and restrictive, why study it?
Exhibit 11-6 Aggregate demand and supply model
In Exhibit 11-6, if the aggregate demand curve is at AD1, the government should:
A. raise taxes to move to AD2. B. cut taxes to move to AD2. C. cut taxes to move to AD3. D. cut spending to move to AD2.