A quota imposed on imported steel will cause the domestic ________ of steel to increase and the domestic ________ of steel to increase.
A. cost; price
B. price; production
C. imports; exports
D. revenues; imports
Answer: B
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Car Depreciation A common complaint is that a new car will depreciate by 25% as soon as the new owner drives it off the lot. This information comes from resale price data from cars sold just months after the initial purchase. How does adverse selection imply that most cars depreciate much less?
How can the Fed increase the money supply? How can the Fed decrease the money supply? Be specific.
What will be an ideal response?
Political instability is an impediment to development mainly because it:
A. undermines both domestic and foreign investment in a developing country. B. creates cultural and social differences among groups in developing countries. C. produces excessive levels of domestic saving. D. redistributes income.
If you take out a bank loan prior to unanticipated inflation:
A. it will be harder for you to repay the loan because of the inflated dollar. B. you will gain at the expense of your bank. C. your bank will gain at your expense. D. neither you nor your bank will be affected, because the loan was made prior to the inflation.