Quotas are a much greater threat to competition than are tariffs because quotas preclude additional imports at any price.
Answer the following statement true (T) or false (F)
True
A tariff does not place a physical limit on the quantity of a good coming into the country while a quota does.
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The more certain private property rights are
A) the less people need to invest in education or human capital development. B) the more an economy must grow to maintain a certain living standard. C) the less entrepreneurship there will be. D) the more capital accumulation there will be.
The Great Depression is thought to have been prolonged and made deeper by
A) contraction of the money supply. B) the stock market crash. C) speculative behavior of investors. D) rapid inflation.
During the 1930s,
a. ordinary citizens were not allowed to hold gold. b. the US government fixed the price at which the Treasury would by and sell gold. c. production of gold soared. d. All of the above are correct. e. Only a and b are correct.
The movements of real GDP and inflation during the 1973-1975 recession can be best explained by a:
a. rightward shift of the aggregate demand curve. b. leftward shift of the aggregate demand curve. c. rightward shift of the aggregate supply curve. d. leftward shift of the aggregate supply curve.