Commodity money cannot be used as a unit of account
a. True
b. False
Indicate whether the statement is true or false
False
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A decrease in the U.S. price level will: a. decrease U.S. imports
b. decrease U.S. exports. c. decrease the quantity of RGDP demanded in the United States. d. both (a) and (c)
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, the change in producer surplus brought about by the introduction of a tariff is:
A. an increase of HIJKL. B. a loss of HIJKL. C. an increase of H. D. a loss of H.
The natural rate of output is the amount of real GDP produced
A. when the economy is at the natural rate of aggregate demand. B. when the economy is at the natural rate of unemployment. C. when the economy is at the natural rate of investment. D. when there is no unemployment.
Which of the following is the best example of a voluntary export restraint?
A) a limit imposed by the U.S. government on the number of cell phones that the United States can import from Korea B) a subsidy granted by the U.S. government to domestic cell phone manufacturers so they can compete more effectively with foreign cell phone manufacturers C) a limit set by the Korean government on the number of cell phones that the United States can import from Korea. D) a $50 per-cell phone fee imposed on all cell phones imported into the United States