An example of an exclusive union would be
A. the International Brotherhood of Teamsters.
B. the Professional Air Traffic Controllers Organization.
C. the United Auto Workers.
D. the International Ladies Garment Workers Union.
B. the Professional Air Traffic Controllers Organization.
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Antitrust laws seek to prevent actions that harm society such as
A) price discrimination. B) refusal to deal. C) predatory pricing. D) All of the above.
Special interest groups often engage in rent seeking, which is a socially wasteful activity
Indicate whether the statement is true or false
Suppose Canada can produce either 300 tons of paper or 200 HDTVs, and India can produce either 200 tons of paper or 100 HDTVs. The terms of trade between the two countries will lie between
A. 1/3 and 2/3 of an HDTV per ton of paper. B. 1/3 and 1/2 of an HDTV per ton of paper. C. 1/2 and 2/3 of an HDTV per ton of paper. D. 1/2 and 1 HDTV per ton of paper.
The figure below shows an IS-LM-FE model for an economy with fixed exchange rates. Initially the economy is at Point A, a triple intersection. Here, the FE curve is steeper than the LM curve.
At Point B, the economy is experiencing
A. an overall balance of payments that is in equilibrium. B. a surplus in the overall balance of payments. C. an expanding money supply. D. a deficit in the overall balance of payments.