Imposing a quota on metal softball bats shipped into the United States would likely:
a. increase the price of the bats but decrease the total quantity of bats purchased in the United States.
b. increase the price of the bats and the total quantity of bats purchased in the United States
c. leave the price of the bats unchanged but decrease the quantity purchased in the United States.
d. leave both the price of bats and the quantity purchased in the United States unchanged.
a
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According to this Application, the main concern of Greek residents was that
A) the Prime Minister of Greece would be impeached. B) hyperinflation could occur in the economy. C) the country wold switch to a gold standard. D) banks would convert their accounts to drachmas and they would suffer financial losses.
In face of a negative supply shock, the Fed may avoid a rise in unemployment only if it is willing to increase the rate of inflation
Indicate whether the statement is true or false
The firm in a perfectly competitive industry is a
A) price taker. B) price maker. C) price seeker. D) price dealer.
Which of the following is an example of an automatic stabilizer?
What will be an ideal response?