If a nation imposes tariffs and quotas on foreign products, the immediate effect will be to:
A. reduce the rate of domestic inflation.
B. increase efficiency in the world economy.
C. increase domestic output and employment.
D. reduce domestic output and employment.
C. increase domestic output and employment.
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Which of the following is a macroeconomic statement?
A) Real domestic output of seafood increased 12 percent from 2015 to 2016. B) The U.S. inflation rate was two percent in 2016. C) The price of cell phones decreased by 18 percent last year. D) Motorcycle manufacturer productivity decreased by three percent in 2016.
The principal advantage money has over barter is its function as:
A. debt. B. a store of value. C. a unit of account. D. a medium of exchange.
Which of the following is a TRUE statement about the relationship between the price of bonds and the interest rate?
A. The prices of bonds increase when the interest rates rise. B. The prices of bonds are unrelated to the interest rate. C. The prices of bonds are inversely related to the interest rate. D. The prices of bonds are directly related to the interest rate.
Suppose a binding price floor on sparkling wine is proposed by the Health Minister of the country of Vinyardia. What will be the likely effect on the market for sparkling wine in Vinyardia?
A) Consumer surplus will increase. B) Producer surplus will increase. C) Deadweight loss will increase. D) Market efficiency will increase.