High protective tariffs
A. would be supported by most economists.
B. will become more likely if we do not reduce our trade deficit.
C. have very little support.
D. would definitely solve all our trade problems.
B. will become more likely if we do not reduce our trade deficit.
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Because of diminishing marginal utility, you
A. should never buy more than one unit of a good, since additional units decrease your total utility. B. have to consider the effect of additional units on your total utility when you make purchases. C. wind up paying for units that you receive no benefit from. D. always want to increase your consumption of a good until the marginal utility you get is zero.
For a given quantity, the total profit of a perfectly competitive firm is equal to the vertical distance between the firm's total revenue curve and its total cost curve
Indicate whether the statement is true or false
In the foreign-exchange market, trading
A) is restricted to the hours 10 A.M. to 3 P.M. New York time. B) may not take place after 5 P.M. London time. C) takes place at any hour of the night or day. D) takes place at prices set by the U.S. government in consultation with the governments of other leading countries.
The national debt
A) decreases with a budget deficit. B) increases with increases in government spending. C) increases with open market purchases by the Federal Reserve. D) increases with a budget deficit.