The problem with the protection-as-a-bargaining-chip argument for trade restrictions is A. if it fails the country faces a choice between two bad options. B. if it works producer surplus falls. C. if it fails total surplus will increase. D. if it works consumer surplus will decline.

The sticky-price theory asserts that the output prices of some goods and services adjust slowly to changes in the price level. suppose firms announce the prices for their products in advance, based on an expected price level of 100 for the coming year. many of the firms sell their goods through catalogs and face high costs of reprinting if they change prices. the actual price level turns out to be 110. faced with high menu costs, the firms that rely on catalog sales choose not to adjust their prices. sales from catalogs will

Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.

An essential element of being receptive to messages is to have an open mind true or false