A quota is
A) a government-imposed restriction on the quantity of a specific good that can be imported into a country.
B) a tariff imposed on goods that are dumped into the home country.
C) a tariff imposed on goods that are subsidized by their domestic governments and exported to other countries.
D) a tariff based on the value of the imported good.
A
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A globe is a model. However, it lacks much of the detail that one would find on a map. Does that make the globe an inferior model? Why not?
What will be an ideal response?
The sum of the coins and currencies in the bank's vault and its deposit in the Fed is called:
a. vault cash. b. transaction deposits. c. legal reserves. d. required reserves. e. loanable funds.
Supply-side economists favor tax incentives that
A. Discourage infrastructure development. B. Encourage investment. C. Discourage saving and encourage spending. D. Increase the level of government regulation.
Consumers must make choices about what to buy and what to forgo to fulfill wants because
a. consumers' income are unlimited. b. consumers' wants are limited. c. consumers' incomes are limited.