The specification of the maximum amounts of commodities which may be imported into a country in any period of time is a:
Tariff
Quota
Nontariff barrier
Voluntary export restriction
Quota
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Jobs in rural areas generally pay lower wages than jobs in urban areas because there are limits to labor mobility
a. True b. False
If policy makers wanted to use both monetary and fiscal policy to stimulate demand and reduce a high rate of unemployment, which of the following would be most appropriate?
a. A larger budget deficit and the purchase of securities in the open market by the Fed b. A government surplus and the sale of securities in the open market by the Fed c. A larger government deficit and an increase in the discount rate d. A larger government surplus and a reduction in the discount rate
A principal disadvantage of conventional checking accounts compared to money market mutual funds is that checking accounts
a. are less liquid. b. often do not pay interest. c. cannot be used as a store of value. d. are not insured by deposit insurance.
To maximize profits, an unregulated natural monopolist would choose which combination of price and output in Figure 27.1?
A. P1, Q1. B. P4, Q4. C. P2, Q2. D. P3, Q3.