An import quota does which of the following?
A. Decreases the price of the imported good to the consumer.
B. Increases the price of the domestic good to the consumer.
C. Redistributes income from the domestic producer to the protected domestic exporter.
D. Decreases the price received by the foreign producer.
B. Increases the price of the domestic good to the consumer.
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Citizens have a strong incentive to monitor local government because _____
a. as citizens it is their duty to do so b. the level of government services directly affects their utility because they consume them every day c. it is easy to observe the level and quality of nearby governments d. the cost and quality of local government services are reflected in housing prices
Some property tax limitations, such as California's Proposition 13, only do significant reassessment of property taxes when houses are sold. This creates _____
a. an incentive to rent b. inequity between homeowners of comparable houses c. a disincentive to move d. b and c e. all of the above
Low-skill workers earn a lower wage than more experienced, higher skilled workers because the
a. low-skill workers were never given the opportunity to invest in human capital. b. low-skill workers lack the intelligence necessary to do any other form of work. c. low-skill workers are too lazy to search for other employment opportunities. d. supply of low-skill workers is large relative to the demand for workers in this skill category.
Which of the following is NOT a method of forecasting exchange rates?
a. technical methods b. animal methods c. economic fundamental methods d. All of these are methods.