Which is the most accurate statement?
A. If most economists had to choose between a tariff and a quota, she or he would choose a tariff as the lesser of two evils.
B. Both tariffs and quotas are basically good for our economy because they keep out foreign imports.
C. Tariffs and quotas are equally bad for our economy.
D. Most economists prefer import quotas to tariffs.
A. If most economists had to choose between a tariff and a quota, she or he would choose a tariff as the lesser of two evils.
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If nothing else changes, the ________ the current exchange rate, the ________ is the expected profit from holding dollars, all other things remaining the same
A) higher; larger B) lower; smaller C) lower; larger D) The premise of the question is wrong because the exchange rate has nothing to do with expected profit from holding dollars.
In the last two decades of the 20th century, developing countries as a whole have
a. grown more slowly than developed countries b. grown a bit more rapidly than developed countries c. grown much more rapidly than developed countries d. made very little progress e. none of the above
The period between ________ is commonly regarded by economists as a "golden age" of rapid productivity growth in the United States
A) 1898 and 1929 B) 1920 and 1940 C) 1933 and 1965 D) 1948 and 1973
If substantial internal scale economies exist, production of a commodity tends to be concentrated in a few large facilities in a few countries.
Answer the following statement true (T) or false (F)