Import quotas are
a. methods for reducing imports by limiting the quantity of goods that can enter the country each year.
b. voluntary agreements by exporting countries to limit sales in a foreign country.
c. subsidies to foreign producers to encourage them to trade.
d. None of these.
a. methods for reducing imports by limiting the quantity of goods that can enter the country each year.
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What would be a way for the Federal Reserve to slow down the economy when it is growing too quickly or is inflationary?
A) print more money B) encourage the stock market C) sell more government bonds D) buy back government bonds on the open market
Using the money demand and money supply model, an increase in money demand would cause the equilibrium interest rate to
A) increase. B) decrease. C) not change. D) increase, then decrease.
If the demand for opera singers increases faster than the supply, wages will rise
a. True b. False Indicate whether the statement is true or false
If, beginning from a competitive labor market, some workers form a union and negotiate a higher rate for themselves, which of the following is likely to happen? a. Competition will force the wage rate in the non-union sector to increase to the level of the union wage. b. The marginal product of labor curve will increase in the unionized sector
c. Employment will move from the union to the non-union sector over time. d. Employment will increase in the union sector because workers will be attracted by the higher union wage.