Explain why an appreciating U.S. dollar does not benefit everyone in the U.S.
What will be an ideal response?
An appreciating U.S. $ will benefit importers and individuals who want to purchase foreign assets. On the other hand, it will make the price of foreign goods and services, as well as foreign assets, more expensive.
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Consumer surplus is the
A) value of a good expressed in dollars. B) price of a good expressed in dollars. C) value of a good minus the price paid for it summed over the quantity bought. D) value of a good plus the price paid for it summed over the quantity bought.
As products become less differentiated:
A. consumers are less willing to switch in response to price changes and competition becomes more intense. B. consumers are more willing to switch in response to price changes and competition becomes more intense. C. consumers are less willing to switch in response to price changes and competition becomes less intense. D. consumers are more willing to switch in response to price changes and competition becomes less intense.
Initially, the economy is at point B on Figure 10-3 above. We conclude that before adjustment,
A) per person savings is at point D and the level of steady state investment is at point C. B) per person savings is at point E and the level of steady state investment is at point E. C) per person savings is at point G and the level of steady state investment is at point E. D) per person savings is at point C and steady state investment is at point D.
If four large commercial contractors meet and collude on the bids they are going to submit for a large government road contract, this is an example of ________.
A) bid suppression B) output restrictions C) bid rigging D) market division