Refer to the information provided in Figure 20.4 below to answer the question(s) that follow.
Figure 20.4Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, tariff revenue in this country will be
A. $50.
B. $250.
C. $500.
D. $750.
Answer: C
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Total bank reserves are an example of a Federal Reserve
A) tool. B) intermediate target. C) operating target. D) objective.
A nation's consumption possibilities frontier is
a. always the same as its production possibilities frontier b. never the same as its production possibilities frontier c. the same as its production possibilities frontier only if there is advantageous trade d. the same as its production possibilities frontier only if there is no international trade e. usually lower than its production possibilities frontier
When it is impossible to carry out a controlled experiment, economists often turn to a:
A. self-confirming equilibrium. B. precommitment strategy. C. natural experiment. D. irrational behavior.
An increase in interest rates will immediately shift
A. aggregate supply to the right. B. aggregate demand to the left. C. aggregate demand to the right. D. aggregate supply to the left.