Which of the following is the best example of a quota?
A. a tax placed on all small cars sold in the domestic market
B. a limit imposed on the number of men's suits that can be imported from a foreign country
C. a subsidy from the U.S. government to domestic manufacturers of men's suits so they can compete more effectively with foreign producers of men's suits
D. a $100-per-car fee imposed on all small imported cars
Answer: B
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An individual is structurally unemployed if
A) there is a recession and the individual is laid off. B) the individual wants to work just during certain months of the year. C) the individual quits a job in order to search for a better one. D) the individual lacks marketable job skills because technology has changed.
Burns (1934) argued that retardation and decline in some industries are
(a) healthy for a growing and developing economy because resources are released for use in productive sectors. (b) healthy only for the competitors of the declining industries. (c) unhealthy for a growing economy because resources are idle in the declining industries. (d) unhealthy for a growing economy because the released resources are used unproductively by the competitors of the declining industries.
While it is possible to erect barriers to foreign competition and save domestic jobs, restricting international trade may impose large costs on an economy
a. True b. False Indicate whether the statement is true or false
Other than following a rule, a country could do each of the following things to help its central bank achieve credibility except
A. increase central bank independence. B. put the central bank under the government's control. C. appoint a tough central banker. D. change the incentives of the central bankers.