Refer to Figure 18.4. With a tariff or quota, what is the equilibrium price of gloves in Duckland?
A) $8 B) $9 C) $10 D) $11
C
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An open market sale of securities by the Fed
A) decreases banks' reserves and increases banks' securities. B) increases banks' reserves and decreases banks' securities. C) increases banks' total assets. D) involves a bank selling government securities to the Fed.
Which of the following countries is not a member of NAFTA?
A) Canada. B) The United States of America. C) Mexico. D) All three countries form part of NAFTA.
_________________ —a term describing a good in which the quantity demanded falls as income rises and in which quantity demanded rises and income falls.
a. Complement good b. Inferior good c. Normal good d. Superior good
Goods that are not rival in consumption include both
a. private goods and common resources. b. club goods and public goods. c. common resources and public goods. d. private goods and club goods.