Which of the following industries would be considered to have a capital intensive production process?
A. Auto manufacturing
B. Farming in a poor country
C. Writing a novel.
D. Art restoration.
A. Auto manufacturing
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Suppose that the U.S. exchange rate is expected to fall in the future. As a result, in the foreign exchange market, there will be
A) an increase in the demand for dollars, a decrease in the supply of dollars, and a rise in the equilibrium exchange rate. B) an increase in the demand for dollars, a decrease in the supply of dollars, and a fall in the equilibrium exchange rate. C) a decrease in the demand for dollars, an increase in the supply of dollars, and a rise in the equilibrium exchange rate. D) a decrease in the demand for dollars, an increase in the supply of dollars, and a fall in the equilibrium exchange rate.
Assume that your state government has placed a price ceiling of $.20 per kilowatt hour on electricity. The equilibrium price per kilowatt hour for electricity is $.25. The government's action will result in
A) a surplus of electricity in the electricity market. B) an increase in the price of electricity to $.25 per kilowatt hour. C) an increase in producer surplus. D) a deadweight loss.
Explain the "Unfair Trade Practices" argument as a case against free trade
What will be an ideal response?
A price ceiling is a legal minimum on the price at which a good or service can be sold
a. True b. False Indicate whether the statement is true or false