When considering rent seeking, which of the following is TRUE?
A) The anti-free trade group generally will lobby more than the pro-free trade group.
B) The pro-free trade group generally will lobby more than the anti-free trade group.
C) Usually only the anti-free trade group is concerned about what is best for society at large.
D) Only the pro-free trade group is concerned about the government's revenue from tariffs.
A
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If two nations both peg to a center nation, and one devalues its exchange rate against the other partner (cooperatively) and to the center as a result of a demand shock, what is the effect?
A) The center nation will require that the two line up their rates. B) The devaluing nation will see an increase in demand while the other partner sees a decrease (thus sharing the impact of the demand shock). C) The devaluing nation will see a larger increase in demand while its partner will suffer more (thus favoring the devaluing nation). D) Both nations will suffer more because the center nation will match the devaluation, thus negating the effect.
An increase in the supply of capital, which is a complement to labor, will lead to
A) an increase in the quantity of labor demanded. B) a decrease in the demand for labor. C) an increase in the demand for labor. D) a decrease in the quantity of labor demanded.