A supply restriction on imported goods, such as the government's restriction of imported oil for many years, is referred to as
A) an export quota.
B) an import quota.
C) a price floor.
D) a price ceiling.
B
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North (1974) finds evidence to suggest that the iron industry was equally dependent on the railroad and iron stove industries for sales revenue at one point in time
Indicate whether the statement is true or false
Ms. Dunlap has just won the big bingo prize. She has two options for receiving her prize. She can either take a $1,050 now or two installments of $550, one now and one next year. At what interest rate would the two payments be equivalent?
A. 4.75 percent. B. 8.25 percent. C. 10 percent. D. 15 percent.
A sale of bonds by the Fed generates
A. a decrease in the demand for money balances. B. an increase in the demand for money balances. C. an increase in the supply of bonds and a fall in bond prices. D. an increase in the demand for bonds and a rise in bond prices.
At a price of $20, Daphne sells 35 hand-painted dog collars per week. When she raised her price to $25, she sold 28 per week. Based on this information, the demand for her dog collars is
A) perfectly elastic. B) inelastic. C) unit elastic. D) elastic.