Quotas and tariffs both serve the purpose of
A) increasing foreign trade.
B) restricting foreign trade.
C) causing domestic producers to lose revenues.
D) lowering prices on imported goods.
Answer: B
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Excess supply in an unregulated market will cause the price of a product to fall
Indicate whether the statement is true or false
Discrimination that occurs because the discriminator dislikes another person's gender, race, or some other personal characteristic is known as
A) taste-based discrimination. B) indirect discrimination. C) justifying discrimination. D) statistical discrimination.
Other things the same, the aggregate quantity of output supplied will increase if the price level
a. is lower than expected so that firms believe the relative price of their output has increased. b. is lower than expected so that firms believe the relative price of their output has decreased. c. is higher than expected so that firms believe the relative price of their output has increased. d. is higher than expected so that firms believe the relative price of their output has decreased.
A currency bailout
A. Is considered to be a dangerous move by the central banks of the strongest economies worldwide. B. Occurs when money is borrowed from an economy to increase the value of its currency. C. Is considered to be a dangerous move by the International Monetary Fund. D. Can help avoid a situation in which a weakness in one currency undermines other currencies.