Import bans, import quotas, voluntary export restraints (VERs), and tariffs on goods all:
A. increase imports and raise prices for consumers.
B. reduce imports and prices for consumers.
C. reduce imports and raise prices for consumers.
D. increase imports and reduce prices for consumers.
Answer: C
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Which of the following would be a debit in the U.S. capital account?
A. A U.S. publisher purchases a copyright from a French author for $3,000. B. A Chinese importer buys $10,000 of cigarettes from a U.S. manufacturer. C. Egypt forgives $100,000 of debt owed by the U.S. government. D. A U.S. corporation sells $50,000 of stock to investors in Japan.
The above figure represents the demand and marginal revenue curves for Sue's Seafood, a seller of fresh fish
a. Over what range of output is demand elastic? b. Over what range of output is demand inelastic? c. What price maximizes total revenue? d. What is the price elasticity of demand at the revenue maximizing price?
Savings that pay for capital investment can come from:
A. outside a country. B. within a country. C. domestic savings. D. All of these are true.
If the economy experiences inflation and economic growth, this means that aggregate demand grows by more than aggregate supply
a. True b. False Indicate whether the statement is true or false