A ceiling imposed by a country on the quantity of a good or service it will import is called a
A. quota.
B. tariff.
C. non-tariff barrier.
D. trade embargo.
Ans: A. quota.
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The profitability of an investment project will increase if
A. tax rates increase. B. real interest rates increase. C. real interest rates decrease. D. business tax deductions decrease.
If an increase in income results in a rightward parallel shift of the demand curve, then at any given price, the price elasticity of demand will have
A) increased in absolute terms. B) decreased in absolute terms. C) remained unchanged. D) increased, decreased or stayed the same. It cannot be determined.
Which of the following is NOT an example of buyer interaction that may improve the effectiveness of monopsony power?
A) Professional sports leagues that coordinate salary structures for players across the teams. B) A buying cooperative in which members pool their purchases into one large order. C) Labor unions that negotiate wage contracts for many workers who are employed by one firm. D) All of the above are examples of buyer interaction in monopsonistic markets.
In 1981, the Reagan administration employed a policy that included tax ____ while at the same time the Federal Reserve’s strategy was to combat ____.
A. cuts; unemployment B. cuts; inflation C. hikes; unemployment D. hikes; inflation