You draw colored balls out of a bag. You draw a red ball 30% of the time and a blue ball 70% of the time. For each draw, the blue outcome and the red outcome are
A) mutually exclusive.
B) exhaustive.
C) Both A and B.
D) None of the above.
C
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If a country imposes a tariff on an imported good, the tariff ________ the price in the importing country and ________ the quantity of imports
A) raises; decreases B) raises; increases C) raises; does not change D) lowers; does not change
The reason that a salaried salesman is not working diligently in making high margin sales for the principal could be
a. Adverse selection b. Moral hazard c. All of the above d. None of the above
A less-developed country would probably use ___________ to argue for trade restrictions
a. national security b. infant industry c. protection of workers from cheap foreign labor d. antidumping e. increased efficiency
Lowering tax rates was the main priority of the
A. classicals. B. Keynesians. C. monetarists. D. supply-siders.