A(n) ________ is a tax on imports that is stipulated as a money amount per unit.
A. specific tariff
B. ad valorem tariff
C. optimal tariff
D. effective tariff
Answer: A
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Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Estonia gain compared to the "without trade" numbers?
A) 25 B) 75 C) 100 D) 125
Optimal user fees are paid only by the consumers of the good or service produced.
A. True B. False C. Uncertain
If consumption expenditures increased by $150 million, while GDP remained the same, which of the following could have occurred, all else equal?
a. Exports increased by $150 million b. Imports decreased by $150 million c. Net exports increased by $150 million d. Net exports decreased by $150 million e. Private investment increased by $150 million
Using the liquidity-preference model, when the Federal Reserve decreases the money supply,
a. the equilibrium interest rate increases. b. the aggregate-demand curve shifts to the right. c. the quantity of goods and services demanded is unchanged for a given price level. d. the short-run aggregate-supply curve shifts to the left.