Redemptioners were immigrants who:
a. came to America as missionaries.
b. were brought over on credit provided by ship captains.
c. had previously been imprisoned in England.
d. refused to work as indentured servants.
b. were brought over on credit provided by ship captains.
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Which of the following is an example of an import quota?
(A) 621,780 kilograms limit of an imported good. (B) 5 percent of the value of an imported good. (C) $220 per ton of an imported good. (D) 7 percent of the potential profits from an imported good.
Consider the market for grapes. An increase in the wage paid to grape pickers will cause the:
A. demand curve for grapes to shift to the right, resulting in a higher equilibrium price for grapes and a reduction in the quantity consumed. B. demand curve for grapes to shift to the left, resulting in a lower equilibrium price for grapes and an increase in the quantity consumed. C. supply curve for grapes to shift to the right, resulting in a lower equilibrium price for grapes and an increase in the quantity consumed. D. supply curve for grapes to shift to the left, resulting in a higher equilibrium price for grapes and a decrease in the quantity consumed.
If the economy is represented in the graph shown and is currently at point E1, then the economy must be in:
A. long-run equilibrium. B. an economic boom. C. an economic recovery. D. a recession.
Refer to the information provided in Figure 3.14 below to answer the question(s) that follow.
Figure 3.14Refer to Figure 3.14. The market for sunglasses ________ at a price of $60 and a quantity of 450 sunglasses.
A. has a shortage B. has a surplus C. is in equilibrium D. cannot remain in business