A tariff is a
A. tax.
B. price ceiling.
C. subsidy.
D. quantity limit.
Answer: A
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The table below shows the weekly demand for hamburgers in a market where there are just three buyers.PriceQuantity Demanded by Buyer 1Quantity Demanded by Buyer 2Quantity Demanded by Buyer 3$6746597841510123211516Refer to the table. If there were 200 buyers in the market, each with a demand schedule identical to Buyer 2, then the weekly quantity of hamburgers demanded in the market at a price of $4 would be
A. 800. B. 2,000. C. 37,000. D. 3,000.
If the CPI is 120, this means that
A) prices are 120 percent higher than in the reference base period. B) prices are 0.12 times higher than in the reference base period. C) prices are 20 percent higher than in the reference base period. D) the inflation rate must be positive.
In what way do developing countries make the largest contribution to the global concentrations of greenhouse gases?
(a) vehicle emissions. (b) deforestation. (c) mining. (d) irrigation.
Land inheritance in the Southern Colonies differed from inheritance in the Middle and New England Colonies in that
(a) the policy of primogeniture was followed in the South, which encouraged the formation of large land-holdings, whereas primogeniture was normally not followed outside the South. (b) primogeniture was actually followed throughout the colonies but the crops grown in the South, such as tobacco, required larger land-holdings to be profitable than those outside the South. (c) in the South, the large slave plantations had to be re-granted by the colonial government after the death of the owner, usually to the eldest son, but this was not required outside the South. (d) all of the above