Figure 34-10
?
Figure 34-10 shows the effect on the market for disk drives of a(n)
A. quota.
B. tariff.
C. export subsidy.
D. import subsidy.
E. export tax.
Answer: A
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Which of the following is a transfer payment?
A) Social Security payments B) the food stamp program C) a tax deduction D) an income tax credit
Suppose a computer manufacturer purchases a $100 case from a supplier, a $300 computer chip from another supplier, and sells the computers for $1000 . How much did the company contribute to GDP?
a. $1000 b. $900 c. $700 d. $600 e. $400
If the federal government wishes to move the economy out of a recessionary gap, the appropriate fiscal policy is a(n)
A. increase in taxes. B. decrease in government purchases. C. decrease in transfer payments. D. None of the above is correct.
Jose and Maria work at a restaurant. Jose can make either 10 pancakes or 4 waffles; Maria can make either 8 pancakes or 2 waffles. According to this scenario
A) Maria has the absolute advantage in making waffles B) Maria has the absolute advantage in making pancakes. C) Maria has the comparative advantage in making pancakes. D) Jose has the comparative advantage in making pancakes.