A tariff is a
a. tax on exports
b. limit on the quantity of exports
c. limit on the quantity of imports
d. tax on imports
e. subsidy on imports
D
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A trade deficit occurs when:
A. tariffs exceed quotas. B. imports exceed exports. C. quotas exceed tariffs. D. exports exceed imports.
In the above figure, the economy is at point a on the initial supply of loanable funds curve SLF0. What happens if the interest rate rises?
A) There is a movement to a point such as b on supply of loanable funds curve SLF0. B) The supply of loanable funds curve shifts rightward to a curve such as SLF2. C) The supply of loanable funds curve shifts leftward to a curve such as SLF1. D) none of the above
If economies of scale are present, a firm can enhance its profits by
a. operating at any larger scale. b. operating at any larger scale up to the optimal scale. c. operating beyond the optimal scale. d. operating at a lower scale.
Suppose the rate of inflation over the last 5 years has been around 4-5%. Investors use an inflation expectation of that range when making investment decisions. The decision of the investors is based on the theory of _____
a. absolute advantage b. rational expectations c. adaptive expectations d. sticky wages