Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.
Figure 4.4Refer to Figure 4.4. The price of oil in the United States would be $125 per barrel, and the United States would import 6 million barrels of oil per day if the United States levies ________ per barrel tariff on imported oil.
A. no
B. a $25
C. a $50
D. a $100
Answer: A
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In the foreign exchange market, when the U.S. interest rate rises, the supply of dollars ________ and the foreign exchange rate ________
A) increases; does not change B) decreases; rises C) increases; falls D) increases; rises E) decreases; falls
According to your textbook, markets tend to "clear" due to
A) the use of threat and coercion. B) the competitive bidding process. C) the intervention of expert economists. D) a well-managed national economic plan.
Which statement holds true for the period of slavery in U.S. history?
(a) Slavery was a moral institution. (b) The system wasted natural resources. (c) It provided slaveholders with incentives to avoid purchasing farm implements. (d) It developed land and profitably produced agricultural goods for sale in world markets.
Some people believe that employees should be paid the same wages when their jobs, although different, require similar levels of education, training, experience, and responsibility. This principle is known as:
A. the equal-pay-for-equal work doctrine. B. income justice. C. marginal productivity theory. D. comparable worth.