If a country voluntarily agrees to have its companies import more goods from another country, the country has
A) a voluntary import expansion (VIE) agreement.
B) a voluntary restraint agreement (VRA).
C) a mandated tariff.
D) a mandated agreement.
Answer: A
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In economics, welfare analysis focuses on
A) income transfer programs. B) food stamp programs. C) international aid programs. D) None of the above.
Which of the following components of GDP accounts for the bulk of national expenditures in the United States?
a. Government purchases b. Imports c. Consumption d. Investment e. Exports
Uncertainty may cause banks to hold larger excess reserves. Other things being constant, this will: a. have no effect on the volume of loans or the money supply
b. tend to reduce both the volume of loans and the money supply. c. tend to increase both the volume of loans and the money supply. d. tend to increase the volume of loans but reduce the money supply.
Game theory is based on the idea that
a. government determines the rules of the game b. firms are strategically independent c. firms are price takers d. a player's strategy must take account of the strategies followed by other players e. a player's strategy must be independent of the strategies followed by other players