When a tariff is imposed, the demand curve for the domestic good
A. shifts downward and to the right.
B. shifts upward and to the right.
C. shifts upward and to the left.
D. shifts downward and to the left.
Answer: B
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Luigi is willing to lend Klaus $5,000 for one year at a nominal rate of interest of 7%. Both Luigi and Klaus expect the rate of inflation to be 2% in the next year. What is the real return that Klaus is offering to Luigi?
A. 9% B. 5% C. 7% D. 2%
The budget line ________
A) shows the limits to a household's consumption choices B) illustrates a household's preferences C) defines a household's consumption when prices change D) shows the income a household needs to be able to buy goods and services
In the above figure, the maximum number of units that 4 workers can produce is
A) 5 units. B) 10 units. C) 15 units. D) more than 15 units.
If a firm is practicing two-part pricing and it is charging a user fee that is ________ its marginal cost, it has customers with ________ demands.
A) less than; nonidentical B) greater than; nonidentical C) greater than; identical D) less than; identical