Quotas are designed to:
a. restrict export of domestic goods to foreign markets.
b. protect domestic producers from higher sales tax.
c. increase foreign demand for domestic products.
d. increase domestic demand for foreign products.
e. protect domestic producers from foreign competition.
e
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A discount bond is also called a ________ because the owner does not receive periodic payments
A) zero-coupon bond B) municipal bond C) corporate bond D) consol
The use of _______________ policy should be countercyclical to counterbalance the business cycles of economic downturns and upswings.
a. monetary b. tax c. trade d. savings
Over the inelastic range of a demand curve, there is
A) a positive relationship between a given percentage change in price and a change in total revenues. B) a negative relationship between a given percentage change in price and a change in total revenues. C) an increase in total revenues regardless of an increase or decrease in price. D) no relationship between changes in price and changes in total revenues.
Suppose the cost of growing organic corn has risen at the same time as consumer preference for organic corn has fallen. In the market for organic corn, this would be represented by the equilibrium price ________ and the equilibrium quantity ________
A) increasing; increasing or decreasing B) increasing or decreasing; decreasing C) decreasing; increasing or decreasing D) increasing or decreasing; increasing