If gold miners expect the price of gold to be 100 higher one year from now, they will probably
A) decrease the supply of gold they bring to market now.
B) increase the supply of gold they bring to market now.
C) increase the quantity supplied of gold, but supply will remain unchanged.
D) do none of the above.
Question 2
A flawed argument for protection from foreign trade is that
i. tariffs save domestic jobs.
ii. tariffs protect the national culture.
iii. quotas bring about diversity and stability.
A) i only
B) ii only
C) iii only
D) i and ii
E) i, ii, and iii
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