The average nonagricultural tariff in the U.S. is about
A) 3 percent.
B) 5 percent.
C) 9 percent.
D) 15 percent.
A
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The graph illustrates the market for bottled water. If the producers of bottled water switch to using improved technology, then the
A) supply of bottled water decreases. B) quantity demanded of bottled water increases. C) quantity demanded of bottled water does not change. D) price of bottled water rises. E) supply curve shifts leftward.
A temporary supply shock, such as an increase in oil prices, would
A) shift the IS curve down and to the left and leave the FE line unchanged. B) shift the IS curve down and to the left and shift the FE line to the left. C) shift the IS curve up and to the right, but leave the FE line unchanged. D) have no effect on the IS curve.
The seller of a put option is transferring the risk:
A. this statement is incorrect since only sellers of call options are transferring risk. B. of a price increase of the stock to the buyer of the option. C. this statement is incorrect since options do not transfer risk. D. of a price decrease of the stock to the buyer of the option.
When one converts nominal GDP to real GDP, one takes into account which of the following?
A. changes in the distribution of income B. changes in the quality of goods C. changes in the population D. none of these