An example of a quantity restriction is
A) the minimum wage.
B) an import quota.
C) rent controls.
D) price supports in agriculture.
Answer: B
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Although finished goods are scarce, the inputs to produce them are not scarce
a. True b. False Indicate whether the statement is true or false
Exhibit 2-6 Production possibilities curve data A B C D E F Capital goods150 140 120 90 50 0 Consumer goods 0 20 40 60 80 100 In Exhibit 2-6, the concept of increasing opportunity costs is represented by the fact that:
A. the quantity of capital goods produced must be less than 150. B. the quantity of consumer goods is constant for each change in the quantity of capital goods produced. C. greater amounts of capital goods must be sacrificed to produce each additional unit of consumer goods. D. the amount of consumer goods produced must be greater than zero.
One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would
A) contain communism. B) help countries avoid the mistakes of the 1920s and 1930s. C) provide a collective defense security for Western Europe and North America. D) ensure that world prices were not rising too rapidly.
A quota subscription is
A. the maximum amount of funds that can be drawn at the World Bank without a formal proposal. B. when an investor sets limits on the proportion of their portfolio that will contain foreign investments. C. a nation's account at the International Monetary Fund. D. the maximum amount that a private investor can invest in foreign firms.