In which way are tariffs different from quotas?
A) They reduce the volume of imported products.
B) They raise the price of the imported products to consumers.
C) They increase the domestic quantity supplied of the product.
D) They raise government revenue.
D
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A freely functioning market
A. will fairly reward talent and punish the lazy. B. will always be efficient. C. maximizes freedom of choice. D. cannot be made more efficient with government intervention.
The value of an investment in an index fund depends on
A. the earnings estimate for the major index constituent. B. the average performance of all mutual funds. C. what happens to the prices of all stocks in that index. D. the specific stock selection practices employed by the fund manager.
Among those who became permanent legal residents of the U.S. in 2011, about how many were family sponsored?
A. 65% B. 40% C. 33% D. 25%
Nominal GDP is GDP
A) using current market values. B) during a recession. C) minus depreciation. D) after adjusting for any price changes. E) that ignores depreciation.