In order to maintain stable prices, a central bank must
a. maintain low interest rates.
b. keep unemployment low.
c. tightly control the money supply.
d. sell indexed bonds.
c
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Quotas are most often supported by
A) foreign producers. B) foreign consumers. C) domestic consumers. D) domestic producers.
If the income elasticity of demand of houses is exactly 1.40 . Due to a recession, you expect incomes to drop by 25% next year. How will consumers adjust their purchase for houses?
a. Buy 35% more houses b. Buy 35% less houses c. Buy 25% more houses d. Buy 25% less houses
If the country of Deficitland is experiencing trade deficits, they are more likely to cut imports of
a. beef b. cocoa c. coffee d. capital goods e. soybeans
Coffee and tea are:
a. complements. b. substitutes. c. inferior goods. d. unrelated goods. e. nonmarket goods.