The open economy effect suggests that
A) a decrease in domestic price level will cause foreign residents to buy more domestic goods, increasing net exports.
B) a rise in domestic price level will cause domestic residents to buy fewer imported goods.
C) a rise in domestic price level will cause foreign residents to buy more domestic goods.
D) a decrease in domestic price level will cause foreign residents to buy fewer domestic goods, increasing net exports.
A
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From 2009 to 2012
A) The Beveridge curve became flat. B) The Beveridge curve shifted to the right. C) The Beveridge curve cannot be discerned in the data. D) The Beveridge curve shifted to the left.
Which of the following is NOT an example of a transaction cost?
A) the enjoyment of owning the good B) the opportunity cost of time spent looking for stores that sold the good desired C) the cost of returning a defective product D) time spent bargaining over the price of a good
Which of the following characteristics does a public good have?
a. Nonexcludable and rival b. Excludable and rival c. Non-excludable and nonrivalrous d. Excludable and nonrivalrous
A firm cannot price discriminate if
a. it has declining marginal revenue. b. it operates in a competitive market. c. buyers only reveal the price they are willing to pay for the product. d. it has a constant marginal cost.