A quota imposed on imported steel will cause the domestic ________ of steel to increase and the domestic ________ of steel to increase.
A. imports; exports
B. revenues; imports
C. price; production
D. cost; price
Answer: C
You might also like to view...
The value of a dollar varies
A) inversely with the price of gold. B) inversely with the price level. C) directly with the price level. D) directly with the purchasing power of other major currencies.
Which of the following statements concerning speculators is true?
a. There is no risk involved in speculative activity. b. They simultaneously buy and sell a currency in different markets. c. They hope to profit by trading a currency at a different exchange rate later. d. Their actions do not affect exchange rates. e. Their actions are exactly like those of arbitrageurs.
When a good is more broadly defined (for example, Starbucks Caramel Macchiato versus coffee),
a. it will have more available substitutes so demand will be more elastic. b. it will have more available substitutes so demand will be less elastic. c. it will have fewer available substitutes so demand will be more elastic. d. it will have fewer available substitutes so demand will be less elastic.
The only way that the family can consume more and enjoy a higher standard of living is to:
A. decrease the amount each person produces. B. increase both how many people are in the family, and the amount each one produces. C. increase how many people are in the family. D. increase the amount each person produces.