1. Identify the three types of unions. Select one and explain how it is able to increase worker wages.
2. What determines the economic rent for land? Explain from a supply and demand perspective.
3. What factors might cause the interest rates to differ? Explain.
4. How will the market demand curve for a public good differ from the market demand curve for a private good?
5. Cite three important reasons why nations trade.
6. Define the four basic types of trade barriers.
7. What are the major components of the current account in the balance of payments? How is the current account balance determined?
8. What are the basic purposes of antitrust policy?