Which of the following is the LEAST common?
A) free trade areas
B) currency unions
C) currency crises
D) nominal anchors
Ans: B) currency unions
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If the government decides to impose a new tariff on orange juice from Brazil, the tariff would lead to ________ the tariff revenue collected by the U.S. government
A) no change in B) an increase in C) a decrease in D) an elimination of E) making illegal
Conglomerate mergers provide each firm in the merger with some security against high industry risk. If one part of the merged firm suffers losses because of weak market demand,
a. the losses can be hidden in accounting techniques due to the larger and more complex nature of the company b. it can quickly get rid of the weak part of the conglomerate by selling off the assets c. other firms in the industry that did not merge with unrelated firms will have losses also d. the merger will have been proven to be a failure e. the merged firm will suffer but its impact on the firm will be more moderate than it would have been on the non-merged firms in the weak-market industry
Two countries can achieve gains from trade even if one country has an absolute advantage in the production of both goods
a. True b. False Indicate whether the statement is true or false
Suppose a perfectly competitive cotton farmer can produce 10 containers of cotton at an output at which marginal cost equals marginal revenue. The price per container of cotton is $100 and the average total cost is $75. What is the profit or loss that this cotton farmer is earning?
A. $250 B. $750 C. -$25 D. $150