To help pull an economy out of a recession and put additional income in the hands of the public, a government can force its expenditures to ________ its revenues and create a ________
A) reduce; deficit B) exceed; special taxes
C) stimulate; depression D) exceed; deficit
D
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Growth in real GDP per capita for the world economy was greatest during
A) the seventeenth century. B) the eighteenth century. C) the nineteenth century. D) the twentieth century.
The U.S. is planning on imposing quotas on tires imported from china. Domestic retailers predict this will result in an increase in consumer prices on tires by about $10
Use a supply and demand graph with brief explanation to show the effects of an import quota. Assume the quota is binding.
The tightening of credit standards after the Great Recession
A. was more than countered by an opposite trend in regulation, so growth was robust. B. should have been a source of growth but wasn't. C. was a significant reason behind the slowing of economic growth during that period. D. was entirely countered by an opposite trend in regulation, so it was nearly zero.
Refer to the information provided in Figure 20.4 below to answer the question(s) that follow.
Figure 20.4Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. If there is free trade, this country will ________ 200 leather wallets.
A. export B. sell C. import D. buy