The introduction of a tariff will be expected to
A. reduce imports.
B. increase the prices of exports but have no effect on the level of imports.
C. reduce the prices of exports but have no effect on the level of imports.
D. increase exports.
A. reduce imports.
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The main goal of the Clayton Act was to
A. make restraint of trade illegal. B. limit mergers and price-fixing contracts. C. limit competition among small firms. D. make deceptive practices illegal.
The statistical discrepancy
a. is always positive b. is always negative c. must be reduced to zero and eliminated from the balance of payments before the records become official d. is a residual factor that indicates the net error in the balance of payments data e. is a record of all transactions between residents of two countries over a specified period
A major macroeconomic leakage from the circular flow is:
a. Consumption b. Savings c. Saving d. All of the above. e. None of the above.
A company producing sports equipment wishes to increase its total revenue. Should it increase or decrease its price when the product's price elasticity of demand is equal to -0.3?
(a) Increase - the good is price inelastic and in order to increase TR the firm should increase its price. (b) Decrease - the good is price elastic and in order to increase TR the firm should decrease its price. (c) Increase - the good is price elastic and in order to increase TR the firm should increase its price. (d) Decrease - the good is price inelastic and in order to increase TR the firm should decrease its price.