The average tariff imposed on dutiable imports in the United States is about _______ percent.
A) 4
B) 12
C) 20
D) 28
Ans: A) 4
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After graduating from college and getting a job you stop buying generic brand cereal. This suggests that generic brand cereal is a(n)
A. substitutable good. B. normal good. C. complementary good. D. inferior good.
The city of London imposes congestion fees on cars and trucks that drive in central London. The charge is higher Monday through Friday than on weekends. This example of
A. peak pricing. B. positive externalities. C. profit maximizing. D. British socialism.
Economies of scale often arise because higher production levels allow specialization among workers
a. True b. False Indicate whether the statement is true or false
If the probability of losing your job remains ________, a recession would be a good time to purchase a home because the Fed usually ________ interest rates during this time
A) low; lowers B) low; raises C) high; lowers D) high; raises E) low; does not change