A trade deficit occurs when:
A. tariffs exceed quotas.
B. imports exceed exports.
C. quotas exceed tariffs.
D. exports exceed imports.
Answer: B
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Information asymmetries are defined to be when:
A. one party to a transaction has more information that another. B. information isn't readily available to anyone. C. one party withholds information from the other party. D. both sides to a transaction have equal information.
Refer to the above figure. The figure represents the saving function for the consumer. Point C represents
A. the amount of autonomous consumption. B. a situation in which saving is positive. C. a situation in which saving is negative. D. the point at which saving equals zero.
The above figure shows the market for hamburger. Which figure shows the effect of an announcement by the U.S. Food and Drug Administration (FDA)that eating hamburger causes early death?
A) Figure A B) Figure B C) Figure C D) Figure D
Refer to the normal-form game of advertising shown below.Firm AFirm B??AdvertiseDo Not Advertise?Advertise$0,$0$175,$10?Do Not Advertise$10,$175$125,$125Suppose there is a 10 percent chance that the advertising game depicted in Figure 10-17 will end next period. What is the present value to firm A of agreeing to the strategy {do not advertise, do not advertise}?
A. $237.50 B. $125 C. $1,250 D. None of the answers is correct.