Imposing a quota on metal softball bats shipped into the United States would likely:
a. increase the price of the bats but decrease the quantity of domestically made bats purchased in the United States.
b. increase the price of the bats and the quantity of domestically made bats purchased in the United States
c. leave the price of the bats unchanged but decrease the quantity purchased in the United States.
d. leave both the price of bats and the quantity purchased in the United States unchanged.
b
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The graph illustrates the market for bottled water. If the producers of bottled water switch to using improved technology, then the
A) supply of bottled water decreases. B) quantity demanded of bottled water increases. C) quantity demanded of bottled water does not change. D) price of bottled water rises. E) supply curve shifts leftward.
Transfer payments
A) are included in the government expenditure category in gross domestic product. B) refer to all payments made to households by governments. C) refer to payments made by the government that are not made to purchase a good or service. D) are made by households to firms in exchange for goods and services.
__________ firms are treated similarly in financial systems around the world in the handling of their __________ conflict
A) Small; stockholder-lender B) Small; manager-stockholder C) Large; stockholder-lender D) Large; manager-stockholder
Barbie is deciding whether to play soccer or go swimming over the next hour. She decides to swim. Economists would conclude that Barbie:
A. is revealing a preference for swimming over soccer. B. will get less utility from swimming during the next hour than playing soccer. C. was unable to play soccer at that time. D. is more skilled at swimming than playing soccer.