The equilibrium price under an import quota is below the price that occurs with free trade.
Answer the following statement true (T) or false (F)
False
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Where monopsony exists, ____ workers will be hired at ____ wages than if perfect competition prevailed in a labor market
a. fewer; lower b. fewer; higher c. more; lower d. more: higher
If aggregate demand shifts from AD1 to AD2,
A. both output and the price level will rise.
B. output will rise and the price level will fall.
C. output will rise and the price level will remain the same.
D. both output and the price level will fall.
A 10 percent tax is going to be applied to a $100,000 tax base. What can be said about the revenue collected assuming dynamic tax analysis?
A. The total revenue will be zero. B. The total revenue will be between $0 and $10,000. C. The total revenue will be $10,000. D. There is not enough information to determine what revenues will equal.
What are two positive roles that speculators play in currency markets?
What will be an ideal response?