Combinations in restraint of trade are prohibited by
A. the Sherman Act.
B. The Clayton Act.
C. the Federal Trade Commission Act.
A. the Sherman Act.
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A currency drain is
A) when the Fed buys securities, but it is not when the Fed sells securities. B) when the Fed raises the required reserve ratio. C) an increase in currency held outside banks. D) when the Fed either buys or sells securities. E) when the Fed sells securities, but it is not when the Fed buys securities.
Currently. the price of consuming housing src="https://sciemce.com/media/3/ppg__cognero__Chapter_06_Doing_the_quot_Best_quot_We_Can__media__3e7add47-491f-48be-8fcb-fd865a8ddf80.PNG" style="vertical-align: -8px;" width="17px" height="28px" align="absmiddle" />. At the same time, the government lowers the tax on other consumption, lowering the price from 
is lowered by the fact that home mortgage interest is tax deductible. Suppose the government proposed to eliminate this implicit subsidy of your housing consumption, raising the price from 
to 
to 
.
a. Write down your original budget constraint assuming the consumer has income I.
b. Suppose the utility function 
captures your tastes, and suppose 
, 
, 
, 
and 
. Write out the utility maximization problem for this consumer prior to any policy change.
c. How much housing and other goods will this consumer consume prior to any policy change?
d. When the policy change goes into effect, will this consumer still be able to afford the bundle you derived in (c)?
e. When the policy change goes into effect, what bundle will the consumer consume?
What will be an ideal response?
Suppose there is a shortage of computer programmers, but firms refuse to hire unemployed typists and train them. This is one reason for ________ unemployment
A) turnover B) seasonal C) mismatch D) cyclical
According to Scenario 4-1, country A has net exports of:
a. $18 million. b. $8 million. c. $13 million. d. $9 million. e. $6 million.