An import quota is similar to a ________ in its effect on imports, except that an import quota ________
A) tariff; does not generate revenue
B) tariff; generates revenue
C) subsidy; does not generate revenue
D) subsidy; generates revenue
E) tariff; does not result in an efficiency loss.
A
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Assuming all else equal, if firms expect the demand for their products to increase in the near future, ________
A) their labor supply curve will shift to the right. B) their labor demand curve will shift to the left. C) their labor supply curve will shift to the left. D) their labor demand curve will shift to the right.
Which of the following pairs of goods are NOT complements?
A) Hockey sticks and hockey pucks B) Computer CPUs and computer monitors C) On-campus student housing and off-campus rental apartments D) all of the above E) none of the above
Which of the following was a contributing factor to the rising default and foreclosure rates beginning in the latter half of 2006?
a. the increasing share of 30-year, fixed rate loans as a share of outstanding mortgages b. the rigid standards of rating agencies, such as Moody's and Standard and Poors, which limited the development of mortgage-backed securities c. the price-stability policies of the Federal Reserve during 1998-2008 d. the erosion of lending standards during the preceding decade
Maximum utility is achieved when
A. Total revenue is the greatest. B. Marginal utility is zero. C. The price elasticity of demand is 1.0. D. Total utility equals marginal utility.