Dumping occurs when a producer
A. exports low priced low quality products.
B. sells an export at a higher price than it charges domestically.
C. buys raw materials at exploitatively low prices.
D. makes a predatorily attempt to bankrupt foreign competitors to establish a worldwide monopoly by selling below cost.
D. makes a predatorily attempt to bankrupt foreign competitors to establish a worldwide monopoly by selling below cost.
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The welfare loss created by monopolistically competitive markets:
A. is a hotly debated topic among economists. B. is usually not a huge concern to governments. C. is a huge concern to governments. D. has a widely accepted form of measurement.
Regarding government manipulation of the interest rate, all of these statements are correct, except
A. to address business fluctuations, governments may reduce interest rates to induce people to borrow. B. such manipulations may give little thought to the effects on resource allocation between present and future. C. economists agree with the concept of using of interest rates to allocate resources among different time periods. D. generally, the price system reflects public preference between present and future resource allocation.
Suppose consumers expect the price of a good to be higher in the future than it is today. Would the current demand for the good increase or decrease?
John Maynard Keynes's central proposition that a dollar increase in disposable income would increase consumption, but by less than the increase in disposable income, means the marginal propensity to consume (MPC) is:
A. greater than or equal to one. B. equal to one. C. less than one, but greater than zero. D. negative.