Which of the following groups would be most adversely affected by food aid?
a. Manufacturers in the country providing aid
b. Government in the country providing aid
c. Government in the country receiving aid
d. Citizens in the country providing aid
e. Farmers in the country receiving aid
e
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The circular flow diagram indicates that
A) households sell the services of factors of production to firms. B) firms buy the services of factors of production from the government. C) households sell goods and services to the government. D) firms buy goods and services from households.
Since the demand for a narrowly defined product class (Fords, for example) is more elastic than the demand for a broadly defined product class (all automobiles), a union will be better able to raise the wages of its members without causing a reduction in their employment when
a. it can organize an entire industry, rather than just selective firms within the industry. b. it concentrates its organizational efforts on a single firm, ignoring the rest of the industry. c. the demand for the product is highly elastic. d. there are many good substitutes for union labor.
Both the monetarist view of the economy and the simple quantity theory of money hold that velocity is constant
Indicate whether the statement is true or false
Which of the following is included in the supply of U.S. dollars in the market for foreign-currency exchange in the open-economy macroeconomic model?
a. a U.S. bank loans dollars to Tom to buy a U.S. made motorcycle b. a U.S. tire maker wants to build a new factory in China c. a U.S. company wants to import goods to sell in its retail stores d. All of the above are correct.