Which statement best describes U.S. tariff history between 1800 and 1940?
A) Tariffs were relatively high throughout, especially during wars, with peaks in 1828 and 1930.
B) Tariffs were relatively low throughout, especially during wartime.
C) Tariffs were relatively high throughout, especially during wars, with lows in 1828 and 1930.
D) None of the above.
A
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High price and low total utility indicate
a. low marginal utility. b. large quantities are sold. c. high marginal utility. d. a high price/marginal utility ratio.
What was the result of the Climate Summit held in December 2009?
a. All countries signed binding agreements to reduce their greenhouse gases by 20% during the next 10 years. b. No country signed binding agreements to reduce their greenhouse gases. c. Only developed industrialized countries agreed to reduce their greenhouse gases by 20% during the next 10 years. d. Only China and India agreed to reduce their greenhouse gases by 20% during the next 10 years.
As it relates to the political process, the principal-agent problem results from the:
A. negative externalities that are created by some policy actions. B. political rules that encourage elected officials to engage in unethical and illegal behavior. C. inconsistency between voters' interest in programs and politicians' interest in reelection. D. paradox of voting.
An indifference curve shows
A) the combinations of goods that a consumer does not like very much. B) the combinations of goods that generate the same ratio of marginal utilities. C) the set of consumption alternatives that yield the same amount of total utility. D) the set of consumption alternatives that yield the same amount of marginal utility.