Today, the average U.S. tariff is 1.6 percent of the value of imported goods, which is very low by historical standards.
Answer the following statement true (T) or false (F)
True
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A firm must devote people, time, and money to designing a new product. Because any firm has only limited resources, it
A) faces a trade-off, because resources used to develop one product will not be available to develop another product. B) should wait until its competitors develop a similar product before deciding on devoting resources to its own product development. C) is not able to develop more than one new product at a time. D) must be certain that the product it chooses to develop will be successful or it will not be able to stay in business.
During the years 1979 to 1982, the Federal Reserve's announced policy was monetary targeting. During this time period the Federal Reserve
A) hit all of their monetary targets. B) did not hit any of their monetary targets because it is believed that controlling the money supply was not the intent of the Federal Reserve. C) did not hit any of their monetary targets because they were unrealistic. D) hit about half of their monetary targets.
Fiscal policy is the management of aggregate demand through changes in taxes and government spending
a. True b. False Indicate whether the statement is true or false
Economics is the study of the logic of
a. rational decisions. b. decision-making activities. c. ends and means. d. choosing options from those available. e. All of the above are correct.