Studies of NAFTA have concluded that free trade caused ______ in the variety of U.S. imports from Mexico.
a. decreases
b. increases
c. no change
d. slight decreases
Ans: b. increases
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An environmental awareness program was launched in a certain community and all residents in the community were asked to contribute to its functioning. After a month, the program had to be discontinued due to a lack of funds
Why did the program not receive sufficient funds? Explain your answer.
Ali's Gyros operates near a college campus. Ali has been selling 120 gyros a day at $4.50 each and is considering a price cut. He estimates that he would be able to sell 200 gyros per day at $3.50 each
a. Calculate the price elasticity of demand using the midpoint formula. b. Calculate the change in revenue as a result of the price cut.
The Sherman Antitrust Act prohibits price fixing by competitors, monopolization of a market, and attempts to monopolize a market
a. True b. False
An unstable inflation rate
a. always redistributes real income from lenders to borrowers. b. always redistributes real income from borrowers to lenders. c. adds to the risk of borrowing and lending and interferes with long-run financial planning. d. makes goods and services too expensive. e. always redistributes real income from taxpayers to the government.