List four protectionist policies
What will be an ideal response?
Protectionist policies include import bans, import quotas, voluntary export restraints, and tariffs.
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Suppose a family wants to save $60,000 for a child's tuition. The child will be attending college in 18 years. For simplicity, assume the family is saving for a one-time college tuition payment. If the interest rate is 6%, then about how much does this family need to deposit in the bank today?
A. $10,000 B. $42,000 C. $21,000 D. $57,000
Exhibit 12-2 Lorenz curve
As shown in Exhibit 12-2, 60 percent of families earned a cumulative share of about ____ of income.
A. 5 percent B. 15 percent C. 30 percent D. 50 percent
When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pencils (using the initial value formula) is:
A. 1. B. 0.4. C. 0.2. D. -0.2.
Bank reserves include
A) vault cash and deposits with the Federal Reserve. B) loans to bank customers and deposits with the Federal Reserve. C) vault cash and loans to bank customers. D) customer checking accounts and vault cash. E) deposits with the Federal Reserve and holdings of securities.