Firms use collective bargaining to set higher market prices for their products
a. True
b. False
Indicate whether the statement is true or false
False
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________ in the domestic interest rate causes the demand for domestic assets to decrease and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
Free trade means that nations can buy and sell goods from each other
a. unless absolute advantage favors one nation b. without government interference, e.g., tariffs and quotas c. without having to abide by comparative advantage d. and choose their own level of tariffs against each other e. according to their own national quotas
Behavioral economics
a. integrates psychological insights into economic models. b. relies on the assumption that homo economicus describes economic decision-making. c. assumes that economic agents have full information about the conditions surrounding their decisions. d. All of the above are correct.
In 2020, the price for a market basket of consumer goods is $1,300. In the base year, the cost of the identical market basket was $1,000. The price index in this case is
A. 160.0. B. 200.0. C. 130.0. D. 13.0.