A tariff is a tax imposed on ________ good.
A. a luxury
B. an illegal
C. a domestic
D. an imported
Answer: D
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The currency crisis of 1992 caused France and a number of other countries to choose between
A) a single currency for the EU and keeping their own currency. B) doing the right thing for their domestic economy and defending the exchange rate. C) lowering interest rates and reducing unemployment. D) competitive devaluations and falling unemployment. E) the Maastricht Treaty and the Single European Act.
How would the market for coffee be affected if the government charged an excise tax of $1.00 on each unit of coffee sold?
A) There would be a shortage of coffee. B) The demand for coffee would increase. C) The demand for coffee would decrease. D) The supply curve would shift up vertically by $1.00.
Suppose that consumers expect the price of a product to decrease in the future. The result is that:
A. the current demand for the product increases. B. the current demand for the product decreases. C. the current supply of the product increases. D. the current supply of the product decreases.
Decreases in interest rates have made it less costly to finance purchases of new houses. What impact will this have on U.S. aggregate demand?
A. U.S. aggregate demand will decrease. B. None. A nation's aggregate demand is not affected by changes in interest rates. C. U.S. aggregate demand will remain unchanged. D. The U.S. aggregate demand curve will shift to the right.