When import quotas are imposed by a government
A) the domestic producers always lower the prices of their products to ensure that their products are sold.
B) the government is trying to discourage consumers from buying foreign-made goods.
C) the supply of the product on the domestic market increases.
D) the price ceiling for the product has to be lowered.
Answer: B
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If the Fed decided to reverse its policy actions implemented during the heart of the recession, the Fed would be acting to try to prevent
A) an increase in deflation. B) a decrease in unemployment. C) an increase in inflation. D) an increase in unemployment.
What factors would make you more sensitive or less sensitive to price when purchasing gasoline?
What will be an ideal response?
There are ________ voting members on the FOMC
A) 4 B) 7 C) 12 D) 15
A favorable supply shock will cause the price level
a. and output to rise. b. and output to fall. c. to rise and output to fall. d. to fall and output to rise.