Which of the following is not an example of a trade restriction?
A) tariffs
B) quotas and voluntary export restraints
C) legislation requiring that cars sold in a country have a 50 percent domestic content
D) consumer preferences for goods produced domestically
Answer: D
You might also like to view...
Suppose a price ceiling is set above the equilibrium price. Now suppose that policy makers decide to raise the price ceiling. This increase in the price ceiling will cause which of the following to occur?
A) The surplus in the market will increase. B) The surplus in the market will decrease. C) The shortage in the market will increase. D) none of the above
Scarcity is:
A. a fact of life because of limited resources. B. not a problem for Bill Gates because he is a billionaire. C. can be eliminated by rational decision making. D. is a problem studied in microeconomics but is not a macroeconomic concern.
Typically, economists expect oligopolistic behavior on the part of the firms when the four-firm concentration ratio is ______ or higher
a. 10 percent b. 25 percent c. 40 percent d. 60 percent e. 90 percent
In the aggregate demand-aggregate supply model, the short-run effects of an unanticipated decrease in the money supply will be
a. lower real interest rates and an increase in aggregate demand. b. higher real interest rates and an increase in aggregate demand. c. lower real interest rates and a reduction in aggregate demand. d. higher real interest rates and a reduction in aggregate demand.