Related to the Economics in Practice on page 667: When a country lifts a quota, imports to that country generally ________ and the price of the affected product in that country generally ________.
A. decrease; rises
B. decrease; falls
C. increase; falls
D. increase; rises
Answer: C
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________ economists believe that active help from fiscal and monetary policy is needed to insure that the economy is operating at full employment
A) Keynesian B) Monetarist C) Classical D) All
If a competitive firm is losing money then it should:
a. always shut down. b. shut down if its losses are greater than total fixed costs. c. shut down if its total fixed costs are greater than losses. d. raise its price.
________ is (are) estimated at approximately $100 billion per year.
A. Capital flight from the United States B. Remittances sent from developed countries to less developed countries C. Social overhead capital in the United States D. The value of brain drain flowing into the United States
Suppose a poverty program has a basic benefit of $8,000, and a family can earn up to $16,000 before losing all welfare benefits. The marginal tax rate is ________ percent.
A. 0.10 B. 0.2 C. 0.5 D. 2.0