Of the following, who gains with a tariff?
A) domestic buyers of the good or service
B) the importer of the good or service
C) the foreign exporter of the good or service
D) the government of the importing nation
E) the government of the exporting nation
D
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In the above figure, suppose the economy is initially on the demand for money curve MD1. What is the effect of a fall in the nominal interest rate?
A) The demand for money curve would shift rightward to MD2. B) The demand for money curve would shift leftward to MD0. C) There would be a movement upward along the demand for money curve MD1. D) There would be a movement downward along the demand for money curve MD1.
Perfectly competitive markets are not the most efficient type.
Answer the following statement true (T) or false (F)
Other things being equal, a depreciation of the dollar
A. decreases aggregate demand in the United States, and may increase aggregate supply by reducing the prices of imported resources. B. decreases aggregate demand in the United States, and may decrease aggregate supply by increasing the prices of imported resources. C. increases aggregate demand in the United States, and may decrease aggregate supply by increasing the prices of imported resources. D. increases aggregate demand in the United States, and may increase aggregate supply by reducing the prices of imported resources.
Refer to the information provided in Table 33.2 below to answer the question(s) that follow.
Table 33.2
Refer to Table 33.2. In China, the opportunity cost of
A. a tractor is 10 motorcycles. B. a motorcycle is 10 tractors. C. a motorcycle is 1/30 of a tractor. D. a tractor is 1 motorcycle.