Which of the following is a macroeconomics question?
A. Should the government prevent the merger of two large firms?
B. Why does a firm decide to enter a particular market?
C. Should we have a constitutional amendment to balance the federal budget?
D. Should the government put a tax on alcohol in an attempt to reduce highway fatalities?
Answer: C
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Of the following, who gains with a tariff?
A) domestic buyers of the good or service B) the importer of the good or service C) the foreign exporter of the good or service D) the government of the importing nation E) the government of the exporting nation
For a person to have a comparative advantage in producing a product, he must be able to produce that product at a higher opportunity cost than his competitors
Indicate whether the statement is true or false
Because of their greediness, speculators are considered bad for exchange-rate markets
a. True b. False Indicate whether the statement is true or false
The expectation of a random variable X that can take on any of N possible values, Xi with probability Pr[Xi], is denoted as E[X] and defined as:
a. E[X]=???XiPr[Xi]. b. E[X]=??XiPr[Xi]. c. E[X]=?XiPr[Xi]. d. E[X]=?XiPr[Xi].