Ultimately, quotas ________ the ability of foreign countries to buy the domestic country's exports and therefore ________ wealth
A) increase; create
B) increase; destroy
C) reduce; create
D) reduce; destroy
D
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The horizontal portion of the short-run aggregate supply curve in which there is excessive unemployment and unused capacity in the economy is
A) Say's law. B) the classical short-run aggregate supply curve. C) the Keynesian short-run aggregate supply curve. D) exists when prices are flexible.
Scatterbrain Samantha often forgets to lock her house. This has caused the probability of a burglary to be 30%. If her house gets broken into, she faces a property loss of $10,000, otherwise she gets to keep her $100,000 . What is the minimum price an insurance company could offer (if it had no other costs)?
a. $10,000 b. $3,000 c. $100,000 d. $5,000
A trade deficit means that net exports are positive
a. True b. False Indicate whether the statement is true or false
In 2011, what percentage of U.S. families had income levels below $75,000?
a. 20 percent b. 40 percent c. 60 percent d. 80 percent