A legal restriction on the amount of a good that can be imported into a country is known as a
A) voluntary restraint agreement.
B) tariff.
C) quota.
D) Domestic Protection Restraint (DPR).
Answer: C
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A person is preparing for a long automobile trip and cashes in a certificate of deposit for cash in case of emergencies along the way. This is an example of the
A) transactions demand for money. B) asset demand for money. C) precautionary demand for money. D) wealth demand for money.
According to the above table, the value of M1 is
A) $1,205 billion. B) $1,213 billion. C) $1,888 billion. D) $1,629 billion.
If there are 200 physicians per 100,000 population in the United States generally, but over 500 per 100,000 population in San Francisco,
A) physicians are not scarce in San Francisco. B) physicians particularly enjoy living and working in San Francisco, for financial and other reasons. C) residents of San Francisco necessarily need more medical services than the average American. D) there is a shortage of patients in San Francisco. E) there is a surplus of physicians in San Francisco.
The Gini coefficient for the United States in 1980 was 0.403. In 2014, the coefficient was equal to 0.480. This means that
A) income inequality increased from 1980 to 2014. B) there was a decrease in the amount of government transfer payments from 1980 to 2014. C) cuts in federal income tax rates in the early 1980s and 2001 helped to reduce income inequality. D) per capita income in the United States rose from 1980 to 2014.