Protective tariffs are:
A. maximum limits on the quantity or total value of specific products imported to a nation.
B. excise taxes or duties placed on imported products.
C. licensing requirements, unreasonable quality standards, and the like designed to impede
imports.
D. government payments to domestic producers to reduce the world prices of exported goods.
B. excise taxes or duties placed on imported products.
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The aggregate supply curve slopes ________ because a ________ in the price level brings a ________ in the real wage rate
A) upward; rise; rise B) downward; fall; rise C) upward; rise; fall D) upward; fall; fall E) downward; rise; rise
In economics, the concept of surplus:
A. measures the benefit that people receive when they buy something for less than they would have been willing to pay. B. measures the benefit that people receive when they sell something for more than they would have been willing to accept. C. is the best way to look at the benefits people receive from successful transactions. D. All of these are true.
It is claimed that mutual funds have two advantages. The first is that mutual funds allow people with small amounts of money to diversify. The second is that mutual funds provide the skills of professional money managers who buy stocks they believe will be the most profitable and thereby increase the return that mutual fund depositors earn on their savings
a. Economists strongly agree with both claims. b. Economists are skeptical of both claims. c. Economists are skeptical of the first claim, but strongly agree with the second. d. Economists strongly agree with the first claim, but are skeptical of the second.
There are many concerns for risk-averse lenders. Consider the following: 1 . Lenders are concerned that borrowers with the greatest risk are the ones most likely to actively pursue loans. 2 . Lenders are concerned that real GDP will decline leading to reduced corporate profits. 3 . Lenders are concerned that products produced by certain corporations will become obsolete
a. 1 is market risk; 2 is firm-specific risk b. 2 is market risk; 3 is firm-specific risk c. 3 is market risk; 1 is firm-specific risk d. 2 is firm-specific risk; 3 is market risk