The two groups that benefit the most from quotas are
A) the importers who have the right to import the restricted good and the domestic producers of the restricted good.
B) the domestic consumers of the restricted good and the domestic producers of the restricted good.
C) the domestic consumers of the restricted good and the foreign producers of the restricted good.
D) the importers who have the right to import the restricted good and the domestic consumers of the restricted good.
Answer: A
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One reason for the fall in the natural rate of unemployment from 1980 to 2000 is
A) changes in the demographic composition of the work force. B) the decline in inflation. C) increased competition from foreign workers. D) the depreciation of the dollar relative to foreign currencies.
Since 1960, the biggest gain in its share of federal outlays has been in
a. income redistribution b. defense spending c. net interest d. infrastructure e. all other outlays
Which of the following was a lesson from the 2007-2009 financial crisis?
a. The financial system needed more leverage in order to operate. b. The job of stabilizing the economy should be assigned exclusively to monetary policy. c. Monetary policy is finished once the Fed reduces the federal funds rate to zero. d. The business cycle still exists.
If the government imposes an excise tax on a good equal to $5 per unit and the demand curve for this good is vertical, the supply of this good will shift:
A. downward and the price will decrease by less than $5. B. downward and the price will decrease by $5. C. upward and the price will increase by $5. D. upward and the price will increase by less than $5.