The "infant industry argument" recommends protectionism for industries that produce children's clothing
a. True
b. False
Indicate whether the statement is true or false
False
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One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
The conclusion that firms in oligopoly always produce where price exceeds marginal cost is true for all models of oligopoly except the
A. Cournot model. B. contestable market model. C. price-leadership model. D. collusive oligopoly model.
Banks hold excess and secondary reserves to
A) reduce the interest-rate risk problem. B) provide for unexpected deposit outflows. C) satisfy margin requirements. D) achieve higher earnings than they can with loans.
The efficiency-wage theory of worker health is
a. more relevant for explaining unemployment in less developed countries than in rich countries. b. more relevant for explaining unemployment in rich countries than in less developed countries. c. equally relevant for explaining unemployment in less developed countries and in rich countries. d. not relevant for explaining unemployment.