A country that is limiting imports of a good by allowing only a certain number to be imported is using
A. buy "American advertising."
B. non-tariff regulatory barriers.
C. quotas.
D. tariffs.
Answer: C
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Money eliminates the need for a coincidence of wants in trading primarily through its role as a
A. store of value. B. unit of account. C. medium of deferred payment. D. medium of exchange.
When the central bank of a country sells government bonds, _____
a. money flows from individual banks to the central bank, thus increasing the money supply in the economy b. money flows from the central bank to individual banks, thus reducing the money supply in the economy c. money flows from individual banks to the central bank, thus reducing the money supply in the economy d. money flows from the central bank to individual banks, thus increasing the money supply in the economy
The price of apples falls. What happens in the market for apple pies?
A) The equilibrium price falls, and the equilibrium quantity rises. B) The equilibrium price rises, and the equilibrium quantity falls. C) The equilibrium price and quantity rise. D) The equilibrium price and quantity fall.
Macroeconomics is a branch of economics that studies: a. the different costs associated with production
b. the price and output decisions made by different industries. c. the overall performance of the economy. d. the role of a market in determining an efficient outcome. e. the role of input suppliers in determining the price and quantity of output.