The figure below shows the market for MP3 players in a small country. Dd and Sd are the domestic demand and domestic supply curves of the MP3 players. QQ is the quota quantity. The quota on MP3 players will cause domestic producers to
A. gain $150 million.
B. gain $110 million.
C. lose $120 million.
D. lose $100 million.
Answer: B
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A) bank failings and disintermediation. B) decreases in investment. C) a recession. D) a sure competitive advantage accompanied by a comparative advantage. E) depreciation or devaluation of a currency.
If the price level in the United States increases relative to prices in foreign countries, then
A. imports and exports of the United States will increase. B. imports and exports of the United States will decrease. C. imports of the United States will decrease and exports of the United States will increase. D. imports of the United States will increase and exports of the United States will decrease.
Explain the two theories of desired income distribution: the egalitarian principle and the productivity standard
What will be an ideal response?
You lend a friend $10,000 for a year. At the end of the year your friend agrees to pay you $10,700. The interest rate on this loan is
A. 0.07%. B. 7.00% C. 107%. D. indeterminate from this information.