Refer to Figure 9-3. With a quota in place, what is the quantity consumed in the domestic market and what portion of this is supplied by imports?
A) Domestic consumption equals 40 million pounds of which 22 million pounds are imports.
B) Domestic consumption equals 34 million pounds of which 18 million pounds are imports.
C) Domestic consumption equals 34 million pounds of which 16 million pounds are imports.
D) Domestic consumption equals 28 million pounds of which 18 million pounds are imports.
C
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In the diagram of the budget line BB, a rise in government expenditure shifts BB ________, so that an unchanged GDP the budget deficit ________
A) downward, rises B) downward, falls C) downward, remains unchanged D) upward, rises E) upward, falls
A firm would be maximizing profit if MR > MC and TR > TC
Indicate whether the statement is true or false
The objective of the Fed and the government is to
a. prevent asset bubbles by recognizing them in real time. b. mitigate the consequences of asset bubbles by recognizing them in real time. c. prevent asset bubbles by recognizing bad lending practices. d. mitigate the consequences of asset bubbles by recognizing bad lending practices.
One conceptual problem in assigning assets to M1, M2, etc. is
a. distinguishing money from "near monies." b. the problem of measuring asset size. c. the need to agree on a unit of account. d. the different size of financial assets.