The restriction or prohibition of trade in order to put political pressure on a country is:
A. a tariff.
B. unfair practice.
C. a source of quota rent.
D. an embargo.
D. an embargo.
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If losses are unavoidable in an uncertain world, then
A) profits are too. B) profits are only the result of good luck. C) profits are avoidable. D) profits are the result of people acting with perfect information.
A recent medical study shows that peanuts are one of the leading causes of high cholesterol. This would cause the demand for peanuts to
a. Shift to the left b. Shift to the right c. go down the demand curve d. not change
If stock prices follow a random walk,
a. speculation in the stock market destabilizes prices. b. a stock's past performance is not a good indicator of its future performance. c. rumors, news, and other "signals" have no effect on stock prices. d. the stock market does not participate in channeling resources toward firms with high stock prices.
Which one of the following statements about public goods is true?
a. Problems with public goods can always be solved by charging a fee to use the good b. Public goods may provide psychic benefits c. Public goods will tend to be oversupplied d. Money to provide public goods is commonly collected from free riders e. Public goods are any goods owned or provided by governments