The figure below shows the market for shoes in a small importing country. Dd and Sd are the domestic demand and supply curves of shoes, respectively.
The tariff revenue of the country's government is shown by area
A. (a + b).
B. (b + c + d).
C. (a + b + c + d).
D. c.
Answer: D
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If the velocity of money is completely insensitive to changes in the rate of interest, the
A) LM curve will be horizontal. B) LM curve will be vertical. C) IS curve will be horizontal. D) IS curve will be vertical.
Depreciation or consumption of fixed capital depreciation measures:
a. net investment less gross investment. b. the loss of productive ability due to capital intensive production. c. capital that is wasted in the production process. d. the value of existing capital stock used up in the production process. e. the decline in the value of inventories caused by inflation.
Which of the following is money?
A. A debit card B. A credit card C. Traveler's checks D. A check
(Consider This) The story about artist Pablo Picasso illustrates the point that:
A. the demand for labor is a derived demand. B. geographical immobility impedes an efficient allocation of labor resources. C. principal-agent problems can occur in unusual settings. D. present skills reflect past accumulations of human capital.