After the imposition of the quota, the numbers of TVs imported will drop by ________ units.
A. 100,000
B. 40,000
C. 20,000
D. 80,000
Answer: D
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The quantity demanded of a good reflects
A) the number of units of a good people actually purchase. B) the number of units of a good suppliers will provide. C) the number of units of a good people plan to purchase at different prices. D) the number of units of a good people need to purchase.
If technological advance is crucial to growth, then countries must increase their spending most rapidly on
a. investment b. education c. research and development d. basic human needs e. all of the above
Refer to the accompanying figure. Moving from demand curve D2 to demand curve D1 could be caused by a(n):
A. increase in the product's expected future price. B. increase in the price of a substitute. C. increase in quantity supplied. D. increase in the price of a complement.
An advisory council meets to chart a financial course for their country. If they want to see economic growth in the future, what should they do?
a. Spend more money on wages now. b. Produce more consumption goods. c. Produce more capital goods. d. Cut education spending.