Which legislation would U.S. labor unions support?
a. legislation to eliminate all restrictions on immigration
b. legislation to increase direct foreign investment in the United States
c. legislation to ease rules on immigration
d. Labor unions would support all of these measures.
Ans: b. legislation to increase direct foreign investment in the United States
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The slope of a curved line can be approximated by
A) the average of the variable measured along the y-axis divided by the average of the variable measured along the x-axis. B) the inverse of the straight-line method. C) the average of the variable measured along the x-axis divided by the average of the variable measured along the y-axis. D) the slope across an arc from one point on the curve to another point on the curve.
In the short run, if a monopoly is forced to charge a price equal to marginal cost:
A) output will fall. B) the deadweight loss will decrease. C) consumer surplus will decrease. D) other firms will enter the industry.
Adam Smith
a. and David Ricardo both opposed free trade b. opposed free trade, but David Ricardo supported it c. supported free trade, but David Ricardo opposed it d. and David Ricardo both supported free trade
If a developing country has sufficient reserves, the buying and selling of foreign currency by the central bank is:
A. likely to have a much smaller impact on the exchange rate than in developed countries. B. completely ineffective on the exchange rate. C. likely to have a much greater impact on the exchange rate than in developed countries. D. likely to have roughly the same impact on the exchange rate as in developed countries.