A quota is
A. A tax imposed on imported goods.
B. A prohibition against trading a good.
C. An elimination of trade to nurture an infant industry.
D. A limit on the quantity of a good that may be imported in a given time period.
Answer: D
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A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. What is the firm's total revenue?
A) $38 B) $285 C) $570 D) $19 E) There is not enough information given to answer the question.
In case of endogenous sample selection, OLS is unbiased but consistent.
Answer the following statement true (T) or false (F)
Money functions as a store of value if it allows you to:
A. increase your confidence in money. B. make exchanges in a more efficient manner. C. measure the value of goods in a reliable way. D. delay purchases until you want the goods.
An increase in the inflation rate of one country relative to another country will probably cause
A. an increase in the amount of official reserves held by the inflating country's central bank. B. a balance of trade deficit for the inflating country. C. a current account surplus for the inflating country. D. an increase in exports for the inflating country.