Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. The United States will import 3 million CD-Rom drives if ________ tariff per CD-Rom drive is levied on imported CD-Rom drives.
A. no
B. a $10
C. a $15
D. a $25
Answer: B
You might also like to view...
The profit-maximizing level of output and the profit-maximizing price for an oligopolist cannot be calculated when we don't know
A) the type of barrier to entry that exists in the oligopolist's industry. B) the demand curve and the marginal revenue curve of the oligopolist. C) what the concentration ratio for the oligopolist's industry is. D) what the minimum efficient scale in the oligopolist's industry is.
A firm employs 100 workers at a wage rate of $10 per hour, and 50 units of capital at a rate of $21 per hour. The marginal product of labor is 3, and the marginal product of capital is 5. The firm
A) is producing its current output level at the minimum cost. B) could reduce the cost of producing its current output level by employing more capital and less labor. C) could reduce the cost of producing its current output level by employing more labor and less capital. D) could increase its output at no extra cost by employing more capital and less labor. E) Both B and D are true.
With the increasing normalization of relations with China, more and more Chinese goods appear on the U.S. market. Haven't you noticed it? If we buy more from China than China buys from us, then
a. the Chinese currency (the yuan) appreciates and we have an unfavorable balance of trade with China b. the Chinese currency (the yuan) depreciates and we have an unfavorable balance of trade with China c. the Chinese currency (the yuan) appreciates and we have a favorable balance of trade with China d. our balance of payments becomes increasingly negative e. our balance of payments becomes increasingly positive
Most economists reject the theory of rational expectations because
a. expectations adjust very quickly. b. workers receive wage increases in advance of inflation. c. the short-run aggregate supply curve is vertical. d. labor contracts tend to embody past inflation rates.