Refer to the above figures. A quota is placed on a foreign good. Which figure represents the situation in the domestic market for a competing domestic good?
A. Panel A
B. Panel B
C. Panel C
D. Panel D
Answer: B
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Under a strict liability standard, the person who causes an accident is liable
a. whether or not he has been negligent. b. if he could have prevented the accident at a cost less than the damages caused. c. if he could have prevented the accident at a cost less than the damages caused times the probability of the accident's occurrence. d. unless the plaintiff could have prevented the accident at a cost less than the damages incurred times the probability of the accident's occurrence.
The net capital inflow is
a. positively related to the domestic interest rate minus the foreign interest rate. b. negatively related to the domestic interest rate minus the foreign interest rate. c. positively related to the exchange rate. d. negatively related to the exchange rate. e. both a and c.
An aggregate supply curve that is a vertical line must be:
A. a short-run curve. B. an individual firm's supply curve. C. an individual industry's supply curve. D. a long-run curve.
Other nations had tried economic union in the past, and since adopting a common currency had shown economic benefits for them, the nations of Europe decided to try it too
Indicate whether the statement is true or false