Dutiable imports are those on which the government imposes a(n):
A) quota.
B) tariff.
C) import license fee.
D) ban against purchases by U.S. citizens.
Ans: B) tariff.
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On the Solow Diagram, an increase in the saving rate is shown by ________
A) an upward shift of the depreciation line B) an upward shift of the investment function C) an upward shift of the per-worker production function D) a downward shift of the investment function
John Maynard Keynes attributed the "stickiness" of real wages in the early years of the depression to ______. a. the fall in the money supply. b. the tendency of people to cut wages slowly while looking for a job. c. the tendency of employers to ruthlessly replace long-time employees with theunemployed
d. resistance by workers, especially unionized workers, to wage cuts.
The two basic approaches that a country can take as a means to achieve free trade are the
a. unilateral approach and the multilateral approach. b. short-run approach and the long-run approach. c. continental approach and the global approach. d. industry approach and the security approach.
When the government imposes a price ceiling on a good whose price is too high,
A. surpluses are created. B. supply will increase to meet the demand. C. chronic excess demand occurs. D. quantity demanded of the good will fall.