In comparing money to shares of Apple stock, we can say that
A) money is a store of value, but shares of Apple stock are not.
B) shares of Apple stock are a store of value, but money is not.
C) both money and shares of Apple stock are stores of value.
D) neither money nor shares of Apple stock are stores of value.
C
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Economic models are used to
A) represent the complexities of economic environments. B) explain every detail of an economic theory. C) explore decision making by individuals, firms and other organizations. D) build physical renditions of government construction projects.
Figure 9-1
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Which of the graphs in Figure 9-1 best illustrates the path of a composite of common stock prices over the long term?
A. (1) B. (2) C. (3) D. (4)
Tariffs and quotas tend to
a. raise prices domestically but make more goods available b. raise prices domestically and channel more domestic goods into exports c. raise prices domestically and reduce availability of goods d. lower prices domestically but reduce availability of goods e. none of the above
Import substitution policies make use of
A) tariffs that discourage goods from entering a country. B) quotas applied to goods that are shipped abroad. C) production subsidies granted to industries with comparative advantage. D) tax breaks granted to industries with comparative advantage. E) production facilities provided by industrialized countries.