A tax on U.S. imports of Chinese-made tires is likely to:
reduce the price of tires for the domestic buyers for tires in the U.S.
reduce the volume of imports
increase the volume of imports
have no effect on the volume of imports
reduce the volume of imports
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Ceteris paribus, a rise in interest rates in the United States will cause the yen price of the dollar in international exchange markets to ________. I.e., the dollar ________ in value against the yen
A) decrease; depreciates B) increase; depreciates C) increase; appreciates D) decrease; appreciates
If current output is less than the profit-maximizing output, which must be true?
A) Total revenue is less than total cost. B) Average revenue is less than average cost. C) Average revenue is greater than average cost. D) Marginal revenue is less than marginal cost. E) Marginal revenue is greater than marginal cost.
The reason the production possibilities curve is bowed outward (concave) is
A) the law of increasing additional cost. B) that technology is constantly changing. C) that the number of resources is increasing. D) that the economy has more capital goods than entrepreneurial effort.
International capital flows in an open economy have the effect of
a. reducing the power of monetary policy. b. increasing the power of monetary policy. c. increasing the power of monetary policy in an expansion and reducing it in a contraction. d. reducing the power of monetary policy in an expansion and increasing it in a contraction.