A 25% import tariff on imported cheese is referred to as
A) Ad valorem. B) Combination. C) Specific. D) None of the above.
Answer: A
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A short-run macroeconomic equilibrium occurs
A) at the intersection of the short-run aggregate supply curve and the long-run aggregate supply curve. B) at the intersection of the short-run aggregate supply curve and the aggregate demand curve. C) at the intersection of the short-run aggregate supply curve, the long-run aggregate supply curve, and the aggregate demand curve. D) when the rate at which prices of goods and services increase equals the rate at which money wage rates increase.
Which of the following is not held constant along a given demand curve?
a. income b. price c. tastes d. expectations
Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive. 
The long-run equilibrium price in this industry is:
A. $10 B. $0 C. $5 D. $15
Signals can help prevent adverse selection as long as a false signal is costly to the person sending it
What will be an ideal response?