The U.S. government banned cigarette advertising on radio and television after January, 1971 . You would expect to find that after the ban took effect the price of magazine ads for
a. all goods fell.
b. only cigarettes fell.
c. all goods rose.
d. only cigarettes rose.
c
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The current cost of a market basket of goods is $9,000 . The cost of the same basket of goods in the base year was $3,000 . The current price index is:
a. 900. b. 300. c. 166. d. 33.
Which of the following would cause the real exchange rate of the U.S. dollar to depreciate?
a. the U.S. government budget deficit decreases b. capital flight from foreign countries c. the U.S. imposes import quotas d. None of the above is correct.
In which of the following market structures do you find many sellers?
A. monopolistic competition B. perfect competition C. monopoly D. Both monopolistic competition and perfect competition are correct
In the absence of high or volatile inflation, an increase in the price of oil:
A. can be confidently interpreted as meaning that oil producers are earning greater profit. B. can be confidently interpreted as meaning that the money supply has increased. C. can be confidently interpreted as meaning that oil has become more scarce. D. can be confidently interpreted as meaning that the velocity of money has increased.