Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.
Figure 33.4Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, ________ revenue in this country will be $500.
A. import
B. tariff
C. export
D. total
Answer: B
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Raising taxes and cutting spending are examples of ________
A) fiscal policy tightening B) fiscal policy expansion C) monetary policy tightening D) monetary policy expansion E) none of the above
A Nash equilibrium is a set of strategies that are mutual:
a. best responses. b. dominant strategies. c. Pareto optima. d. all of the above.
An increase in the number of students graduating with a major in psychology would result in
a. a decrease in the supply of psychologists that would increase the wage of psychologists and decrease the number employed. b. an increase in the supply of psychologists that would decrease the wage of psychologists and increase the number employed. c. a decrease in the demand for psychologists that would decrease the wage of psychologists and decrease the number employed. d. an increase in the demand for psychologists that would increase the wage of psychologists and increase the number employed.
The percentage share of income of the top quintile on curve X is
A. 27.
B. 45.
C. 55.
D. 73.