High income countries have tariff policies that generally have
A. equal tariff rates and quotas for all imported items.
B. higher tariff and quota protection on high technology products that compete with domestic firms.
C. lower tariff and quota protection on products in agriculture, and clothing and textiles.
D. higher tariff and quota protection on products in agriculture, and clothing and textiles.
Answer: D. higher tariff and quota protection on products in agriculture, and clothing and textiles.
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Deposit insurance is a protection for bank depositors up to a certain amount which is guaranteed by the federal government
Indicate whether the statement is true or false
One of the basic differences between social and economic regulations is that
A) economic regulations only apply to financial institutions while social regulations apply to a greater variety of institutions. B) social regulations only apply to non-profit organizations while economic regulations apply only to for-profit organizations. C) economic regulations cover only particular industries while social regulations apply to all firms in the economy. D) economic regulations focus on the banking industry while social regulations focus on monopolies.
The Keynesian analysis of fiscal policy argues that:
a. fiscal policy should generally be expansionary except during periods of economic recession. b. fiscal policy should generally be restrictive except during inflationary booms. c. the federal budget should be balanced annually except during war. d. the federal budget should be used to maintain aggregate demand at a level consistent with full employment.
How will a reduction in the price of cotton influence the market for blue jeans?
a. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the left. b. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the right. c. The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the left. d. The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the right.