A tariff on French perfume will ____ the price of perfume in the U.S. and ____ the quantity purchased.
Fill in the blank(s) with the appropriate word(s).
raise; lower
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In Barylia, Greenaqua Corp . is the sole controller of a resource required for the production of bottled drinking water. Therefore, Greenaqua Corp . enjoys:
A) legal market power. B) natural market power. C) regulated market power. D) restricted market power.
Answer the following statements true (T) or false (F)
1. Concern with the level of employment in the economy is a macroeconomic issue. 2. Microeconomics is a study of aggregates in the economy. 3. An economy’s wealth consists of a multitude of consumer and capital goods. 4. Economic services lack the characteristic of transferability found in economic goods.
The coupon equivalent yield of a one-year Treasury bill with a $1,000 face value and a current price of $970 is __________ percent
A) 3.1 B) 3.0 C) 9.7 D) None of the above.
The nature of contracts changed in the 19th century through judicial instrumentalism and had what effect?
(a) Facilitating free-market determinations of wages and prices. (b) Allowing factory owners to contract with masses of employees for wages, hours and working conditions if the terms were made known and the laborers agreed to them. (c) Advancing the rule of caveat emptor in markets because if a seller unknowingly sold defective goods, the buyer's opportunity to inspect the goods before purchase would ensure the seller's innocence of overt deception. (d) All of the above were effects of the changes to the nature of contracts.