A voluntary export restraint occurs when one country prevents a specific product from being imported from another country.
Answer the following statement true (T) or false (F)
False
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Inflation caused by a rise in the prices of inputs is referred to as ________.
A. hyperinflation B. unexpected inflation C. demand-pull inflation D. cost-push inflation
Refer to Table 5.1. Does either Andrea or Hector have an absolute advantage and if so, in what product?
A) Andrea only has an absolute advantage in producing bracelets. B) Hector only has an absolute advantage in producing bracelets. C) Andrea has an absolute advantage in producing both products. D) Hector only has an absolute advantage in producing tiaras.
When the price of the product falls
A. consumer’s surplus remains the same. B. producers’ surplus increases. C. consumer’s surplus falls. D. producer’s surplus falls.
Everything else held constant, a decrease in marginal tax rates would likely have the effect of ________ the demand for municipal bonds, and ________ the demand for U.S. government bonds
A) increasing; increasing B) increasing; decreasing C) decreasing; increasing D) decreasing; decreasing