The U.S. government attempts to spur research and development activities through
a. monetary policy.
b. interest rate policy.
c. export subsidy policy.
d. tax policy.
d
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When the income distribution is described by and labeled A, what is the value of the Gini coefficient?
a. 0
b. 45
c. 1
d. 2
By restricting the amount of a good that may be imported, quotas:
a. increase the price, thus causing domestic producers to sell less than they would with free trade. b. lower the price, thus allowing domestic producers to sell more than they would with free trade. c. increase the price and allow domestic producers to sell more at a higher price than they would with free trade. d. lower the price, thus causing domestic producers to realize lower total revenue from the quota item. e. simply replace foreign production with domestic production.
Which of the following statements reflect sound economic reasoning?
What will be an ideal response?
If a perfectly competitive market had 10,000 identical firms, the market supply curve would be ______ times the quantity supplied by each firm.
a. 5,000 b. 10,000 c. 20,000 d. 100,000