An example of a quota that protects an American industry is the quota on
a. tourists entering the country.
b. sugar imports.
c. sales of oil products to foreign countries.
d. purchases of military hardware to foreign dictators.
e. All of the above are examples of protective quotas.
b
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The adverse consequences of debt deflation are most evident ________
A) in the expansion of credit to high-risk borrowers B) on the balance sheets of nonfinancial businesses C) in a sharp decline in the real interest rate D) on the balance sheets of financial businesses
The demand for durable goods tends to be more price elastic than the demand for non-durables
a. true b. false
Which of the following statements is TRUE about the market demand curve for labor?
A. The market demand curve is the sum of the individual firm's demand curve. B. The market demand curve depends upon labor productivity, the wage rate and the price of the final product. C. The market demand curve shows the quantities of labor demanded by all firms in the industry at various marginal products. D. The market demand curve will be perfectly inelastic since firms need labor.
Since services do not involve the production of physical things, they are not included in GDP calculations.
Answer the following statement true (T) or false (F)