There is 5 percent average tax on imported goods in the United States. This tax is known as a(n) ________.
A. quota
B. tariff
C. income tax
D. sales tax
Answer: B
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The purchase of 500 shares of Honda stock by the California State Employees' Pension fund
A) is counted as consumption expenditure. B) is not counted as part of GDP. C) is counted as investment in the GDP accounts. D) is counted as part of export expenditure in the GDP accounts because Honda is a foreign firm. E) is counted as part of import expenditure in the GDP accounts because Honda is a foreign firm.
In the diagram below, profit is maximized at point 
A. C. B. D. C. B. D. A.
Assume a diagram in which a budget line is imposed on an indifference map. A consumer will maximize her utility:
A. at any point where the budget line and an indifference curve intersect. B. at either point where the budget line intersects the horizontal and vertical axes. C. where the budget line is tangent to an indifference curve. D. where the ratio of the two product prices equals the reciprocal of the consumer's income.
In recent years, the United States has had large:
A. current account surpluses. B. current account deficits. C. balance of trade surpluses. D. balance of payments surpluses.