If protective import-restricting quotas are imposed by a country, in the majority of cases that nation's consumers end up
A. consuming more of the good than they otherwise would.
B. paying a lower price for the good than they otherwise would.
C. having more consumption choices than they otherwise would.
D. consuming less of the good than they otherwise would.
Answer: D
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The difference between an import quota and a tariff that results in the same domestic price is
a. none; they are the same b. the quantity demanded is higher under the tariff c. the world price is higher under the quota d. the tariff revenue goes to the domestic government; quota benefits may go to foreigners e. none because both quotas and tariffs are illegal
The kinked demand curve model explains pricing in monopoly markets.
Answer the following statement true (T) or false (F)
Suppose that monetary neutrality and the Fisher effect both hold. An increase in the money supply growth rate increases
a. the inflation rate and real interest rates. b. the inflation rate, but not real interest rates. c. real interest rates, but not the inflation rate. d. neither the inflation rate nor real interest rates.
Refer to the accompanying table. Pat's opportunity cost of delivering a pizza is making: Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. 3/2 of a pizza. B. 2/3 of a pizza. C. 12 pizzas. D. 10 pizzas.