An exclusive deal is
A) always illegal.
B) welfare reducing.
C) one where a firm will only sell to a customer if the customer agrees not to buy anything from the firm's rivals.
D) All of the above.
C
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This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if the economy is operating under free trade, who would be in favor of a tariff?
A. Domestic producers B. Foreign governments. C. Foreign producers D. Domestic consumers
How will a sustained appreciation of the U.S. dollar over time likely affect U.S. net exports?
What will be an ideal response?
Other things being equal, the wages of clerical workers would tend to decrease if there was an increase in:
A. The marginal revenue product of clerical workers B. The minimum entry requirements for clerical work C. The period of training required for clerical work D. Nonmonetary benefits available to clerical workers
Draw two SP curves intersecting LP; call the upper intersection point A and the lower point B. The Fed promises to reduce inflation while maintaining natural unemployment. If the public believes the Fed, the economy moves from ________
Then if the Fed turns out to be time-inconsistent, breaking its promise and trading off ________ inflation for lower unemployment, the public revises the way it forms inflation expectations so that in the long run the economy stays at ________. A) A to B, lower, B which is superior to A B) A to B, higher, A which is inferior to B C) A to B, lower, A which is superior to B D) B to A, higher, B which is superior to A E) B to A, lower, B which is inferior to A