A quota reduces quantity sold by operating through the demand side of the market
a. True
b. False
Indicate whether the statement is true or false
False
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Why does the U.S. government maintain a monopoly in the delivery of first-class mail? Does the Postal Service nevertheless face other forms of competition?
Suppose Danielle receives the highest grade in the class on the first exam in her economics course. Regression to the mean implies that Danielle:
A. is likely to get an A in the class. B. isn't likely to do as well on the second exam. C. is likely to do even better on the second exam. D. is unlikely to forget the material she studied for the exam.
A growth recession occurs when
a) there are two successive quarters of negative GDP growth b) economic growth is so rapid that it creates inflation c) real GDP is growing but nominal GDP is not d) potential GDP declines e) GDP grows at a slower rate than its long run trend
The central idea of supply-side tax cuts is that certain types of tax cuts will increase
A. aggregate demand. B. aggregate supply. C. the supply of imports. D. the supply of money.