Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.
Figure 4.4Refer to Figure 4.4. At the world price of ________ per barrel of oil, the United States imports 6 million barrels of oil per day.
A. $100
B. $125
C. $150
D. >$150
Answer: B
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Which of the following is true about an increase of a per-unit tax in a goods market where the good is quasilinear assuming neither supply nor demand is perfectly inelastic:
A. The more price elastic either demand or supply, the lower will be tax revenue. B. The more price elastic either demand or supply, the greater will be deadweight loss. C. The higher the tax rate, the greater the fraction of deadweight loss over revenue. D. Both (a) and (b) E. Both (b) and (c) F. Both (a) and (c) G. All of the above H. None of the above
Economic growth measured in terms of an increase in per capita real GDP is a good measure of _____
a. the average citizen's standard of living in a nation b. the quality of labor in a nation c. the distribution of income in a nation d. the quality of life people experience in a nation e. economic activity in a nation
Which statement is true?
A. Banks get a significant part of their total revenue from interest on their primary reserves. B. Banks try to carry as much in excess reserves as they possibly can. C. Only a small fraction of the nation's banks are subject to the reserve requirements of the Federal Reserve. D. The banks have received interest on their reserves since October, 2008.
Holding constant risk and the real returns available abroad, higher domestic real interest rates ________ capital inflows, ________ capital outflows, and ________ net capital inflows.
A. increase; increase; decrease B. decrease; decrease; decrease C. increase; decrease; increase D. increase; increase; increase