An example of a quota that protects an American industry is the quota on
A. tourists entering the country.
B. sugar imports.
C. sales of oil products to foreign countries.
D. purchases of military hardware to foreign dictators.
E. All of the above are examples of protective quotas.
Answer: B
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Assume that the graphs show a competitive market for the product stated in the question below.
Select the graph above that best shows the change in the market following a tax placed on the suppliers in the market.
A. graph (1) B. graph (2) C. graph (3) D. graph (4)
If the price level in Great Britain increases from 102 to 105 (holding all else constant), real wealth ________ and there is a movement ________ along Great Britain's aggregate demand curve
A) decreases; upward B) increases; upward C) decreases; downward D) increases; downward
Import Substitution (IS) strategies have been defended on the basis of
a. export pessimism b. the desire to industrialize c. the potential for learning by doing d. the desire to save on foreign exchange e. all of the above
M1 includes
a. small time deposits. b. savings deposits. c. other checkable deposits. d. money market mutual funds.