What are the three major types of quotas?
What will be an ideal response?
Formal quotas outright limit the quantity of imports; import licenses; voluntary export restraints
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Refer to the scenario above. What is the expected value of the gamble?
A) 0 B) $50 C) $75 D) $100
The decrease in consumer spending that occurred after the collapse of the housing bubble caused aggregate:
A. demand to increase. B. demand to decrease. C. supply to increase. D. supply to decrease.
A current account surplus in the U.S. balance of payments coincides with a ______.
a. financial account deficit b. financial account surplus c. balance-of-payments deficit on the current account d. negative net balance for the balance-of-payments account
Which of the following groups designs policies that are best at eliminating stagflation?
A. New classical economists. B. Monetarists. C. Supply-side economists. D. Keynesians.