The Katrina disaster in New Orleans decreased the ability of oil companies to purify crude oil into gasoline. This caused the:
A. supply curve for gasoline to shift inward.
B. supply curve for gasoline to shift outward.
C. quantity of gasoline supplied to move in along the supply curve.
D. quantity of gasoline demanded to move out along the demand curve.
Answer: A
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Economists generally agree that the most important tax in the U.S. economy is the
a. investment tax. b. sales tax. c. property tax. d. labor tax.
After the imposition of the quota, the quantity demanded of TVs is ________.
A. 40,000 B. 100,000 C. 20,000 D. 80,000
Because central banks intervene in currency markets, the term ____ has been used to describe the system.
A. planned float B. controlled float C. flexible D. dirty float
(Last Word) Which of the following is a concern about the consequences of ZIRP, QE, and Operation Twist?
A. Increased government borrowing to fund deficit spending. B. Increased taxes to pay for the monetary stimulus. C. The stimulus to aggregate demand would be too sudden and result in runaway inflation. D. The weakening of the U.S. dollar would worsen the U.S. trade balance.