Voluntary free trade results in:

a. population growth.
b. inflation.
c. higher living standards.
d. income disparity.
e. unemployment.

c

Economics

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An incumbent's threat to use limit pricing if a firm enters the market

A) is credible if the firms have identical costs and market demand supports both firms. B) is credible if the firms have different costs and market demand won't support both firms. C) is not credible if the firms have different costs and market demand won't support both firms. D) is cheap talk, because the other firm will enter and the incumbent will still be able to charge monopoly pricing.

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Economics

Given an upward sloping aggregate supply curve, which of the following changes in the aggregate demand curve is observed when the Fed reduces the money supply?

a. The aggregate demand curve shifts leftward, lowering real GDP and the price level
b. The aggregate demand curve shifts leftward, raising real GDP and the price level.
c. The aggregate demand curve shifts leftward, lowering real GDP but raising the price level.
d. The aggregate demand curve shifts rightward, raising real GDP and the price level.
e. The aggregate demand curve shifts rightward, lowering real GDP but raising the price level.

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Economics

A representative sample

A. eliminates the problem of response bias. B. is frequently a random sample. C. reflects the characteristics of the population. D. both b and c E. all of the above

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Economics

What is a workplace externality associated with education?

A. It is the increase in productivity of a workplace when an educated worker joins a work team. B. It is the increased productivity of professors in a university. C. It is the increased productivity of staff who all work in a university. D. It is the increased productivity of a workplace when led by a CEO who never finished college.

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Economics