Government revenue from a tariff is equal to the amount of the tariff times the quantity imported
a. True
b. False
Indicate whether the statement is true or false
True
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In order to change the money supply, the Fed might use which of the following tools?
A. Dual mandate B. Reserve requirement C. Deficit spending D. Fiscal policy
In the United States during the 1960s, government spending dramatically increased to fight the Vietnam War, which resulted in:
A. demand-pull inflation. B. cost-push inflation. C. a disinflationary recession. D. stagflation.
An example of a public good is
A. a grocery store. B. a ticket to a baseball game. C. a hardwood forest in a national park. D. an orange grove.
For a perfectly competitive firm, which of the following is NOT true?
A) The average revenue curve, the demand and the marginal revenue curves are identical. B) The total revenue curve begins at the origin and slopes upward as output increases. C) The slope of the total revenue curve is equal to the product price. D) The total revenue curve is horizontal.