A tariff is defined as:
a. a limit imposed on the quantity of imports.
b. a tax collected before exporting a product.
c. a discount given on an imported product.
d. a tax imposed on an imported product.
d
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If an overvalued currency is allowed to float:
A) its quantity demanded in exchange for the other currency will decrease. B) its quantity supplied in exchange for the other currency will increase. C) its value will depreciate. D) its value will appreciate.
If the CPI was 122.3 at the end of last year and 124.5 at the end of this year, the inflation rate over these two years was
A) 1.8 percent. B) 2.5 percent. C) 22.5 percent. D) 18.0 percent.
Which was not one of the main U.S. land acquisitions?
a. The Oregon Country b. The Texas Annexation c. The Florida Acquisition d. The Gadsden Purchase e. All of the above are U.S. land acquisitions.
In the long run when average total cost does not depend on the quantity of output, this is called:
A. economies of scale. B. constant economies to scale. C. diseconomies of scale. D. minimum average total cost.