In comparing tariffs and quotas, we know that

A) neither raises revenues for the federal government.
B) both raise revenues for the federal government.
C) tariffs raise revenues for the federal government, while quotas do not.
D) quotas raise revenues for the federal government, while tariffs do not.


Answer: C

Economics

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When an economy is above full employment and the government has a budget deficit, that deficit

A) is less than the structural deficit. B) exceeds the structural deficit. C) is equal to the cyclical deficit minus the structural deficit. D) is equal to the cyclical deficit. E) is equal to the structural deficit minus the cyclical deficit.

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Which of the following cities contains a Federal Reserve bank?

A) Pittsburgh B) Los Angeles C) Seattle D) Dallas

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If the government wants to regulate a natural monopoly, it will force the firm to set price equal to

A) average cost. B) marginal cost. C) marginal revenue. D) None of the above.

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If total income in Sweden remains the same but the wage share of income rises, the Swedish AD curve will most likely:

A. shift to the left. B. become steeper. C. become flatter. D. shift to the right.

Economics