A crucial difference between the impact of an import quota compared to a tariff is that:
a. import quotas generate revenue to the domestic government, but tariffs do not.
b. import quotas generate no revenue to the domestic government, but tariffs do.
c. tariffs increase the prices paid by domestic consumers, but quotas do not
d. both (a) and (c)
b
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Refer to Table 9-15. Looking at the table above, real average hourly earnings were equal to ________ in 2015
A) $9 B) $9.52 C) $10 D) $12
A growth recession is characterized by
A. An increasing unemployment rate with substantial inflation. B. A negative growth rate with a low inflation rate. C. A positive growth rate below 3 percent annually. D. An increasing unemployment rate with moderate inflation.
When the Fed sells government bonds in the open market, the money supply will increase.
a. true b. false
For a given increase in supply, the condition of demand that will result in no change in quantity is when demand is
A. perfectly inelastic. B. perfectly elastic. C. inelastic. D. elastic.