Economically speaking, tariffs:
a. protect domestic consumers of goods
b. protect foreign producers of goods.
c. limit voluntary exchanges.
d. protect domestic producers of exported goods.
c
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John wants to buy a new television set. He can either buy it in the US and pay $1200 or buy it in Canada and pay CAD$1300 . At the exchange rate of 1CA$=US$0.92, ignoring any other costs, he would
a. Prefer buying in the US b. Prefer buying in Canada c. Be indifferent about where he buys his television d. None of the above
Since 1802, the American stock market has yielded an average annual real return (the return adjusted for inflation) of approximately
a. 3 percent. b. 5 percent. c. 7 percent d. 11 percent.
According to the principle of diminishing returns to labor, if the amount of capital and other inputs are held constant, employing additional workers:
A. increases output at a constant rate. B. increases output at an increasing rate. C. decreases output at an increasing rate D. increases output at a decreasing rate.
The highest post World War II unemployment rate occurred
A. in 2001. B. in 1982. C. in 2009. D. in 1974.