Refer to Figure 18.1. With a tariff or quota, what is the equilibrium quantity of gloves in Duckland?
A. 100
B. 80
C. 60
D. 40
Answer: B
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An increase in inflation in the United States relative to the rate in France would make:
a. U.S. goods relatively less expensive in the United States and in France. b. French goods relatively less expensive in the United States and U.S. goods relatively more expensive in France. c. French goods relatively more expensive in the United States and in France. d. French goods relatively more expensive in the United States and U.S. goods relatively less expensive in France.
You turn to the bond market page of a newspaper and look under the column headed "Net Chg" and see that it says, "-1/4" this indicates that
A) the closing price for the bond on this particular day was $2.50 lower than on the previous day. B) the closing price for the bond on this particular day is $0.25 lower than on the previous day. C) the yield for the bond has fallen by 0.25% compared to the previous day. D) the yield for the bond has fallen by 0.25% compared to exactly one year ago.
Exhibit 15-6 Aggregate demand and supply model
?
In Exhibit 15-6, if the aggregate demand curve is at AD3, the government should:
A. raise taxes to move to AD1. B. cut taxes to move to AD2. C. not change its behavior. D. cut spending to move to AD2.
Perfect competition means that firms are
A. powerful sellers. B. price makers (firms set the price of the market). C. unable to make normal profits. D. price takers (firms must accept the price of the market).