U.S. tariffs on imported goods:
A. have steadily increased since the 1970s.
B. have declined since the 1940s and are currently around 5 percent.
C. are currently around 20 percent.
D. are illegal.
B. have declined since the 1940s and are currently around 5 percent.
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Voting power in the IMF is determined by a country's
A) political power. B) quota. C) size. D) All of the above.
In contrast with nominal GDP, real GDP refers to nominal GDP:
a. minus exports. b. minus personal income taxes. c. corrected for price changes. d. corrected for depreciation.
People who believe that consumer sovereignty is a reasonable ideal are likely to agree that:
A. people's wants are plastic and easily manipulated by advertising. B. people often have self-control problems that make it difficult to figure out exactly what they do want and what is best for themselves. C. people sometimes need to be protected from themselves. D. people should be allowed to do whatever they want as long as no one else is hurt.
Statistical discrimination:
A. is always a legal solution to information asymmetry. B. is an irrational response to information asymmetry. C. can limit the opportunities of individuals just because they happen to belong to a certain group of people. D. All of these statements are true.