Which of the following situations will arise in the domestic market following the imposition of an import quota?
A. imports increase, domestic production decreases, prices decrease
B. imports decrease, domestic production increases, prices decrease
C. imports decrease, domestic production decreases, prices increase
D. imports decrease, domestic production increases, prices increase
Answer: D
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Frank Murphy is considering how many snowmobiles to purchase for his snowmobile rental business. Below are his estimates of the number of snowmobile rentals per year, depending on the number of snowmobiles available.Number ofSnowmobilesYearlyrentals1902170324043005350After paying all non-interest expenses, expenses Frank expects to net $10 per rental. Each snowmobile costs $15,000. How many snowmobiles should Frank purchase if the real interest rate is 5.5%?
A. 1. B. 0. C. 2. D. 4.
According to the circular flow diagram, a manufacturer of arms would provide arms in the market for goods and services and receive _____ in return
a. revenue b. scarce resources c. arms d. technological knowhow
A government can finance its budget deficit by doing all of the following except:
A. selling bonds. B. buying bonds. C. borrowing from its central bank. D. printing money.
A minimum wage set above the equilibrium wage rate
A) decreases job rationing. B) decreases the natural unemployment rate because fewer workers will become unemployed. C) increases the natural unemployment rate. D) increases the number of workers employed. E) increases the demand for labor.