________ raised average tariff rates by over 50 percent in the United States in 1930
A) The GATT
B) The WTO
C) NAFTA
D) The Smoot-Hawley Tariff
Answer: D
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To acquire financial capital, a firm can
i. obtain a loan from a bank. ii. issue stock. iii. issue bonds. A) i, ii, and iii B) i and iii C) i only D) iii only E) ii only
What is meant by the "law of one price"?
A) A law was passed in 1913 that made it illegal to sell the same good or service to different people for different prices. B) This is a section of the Sherman Act that forced trusts (for example, the Standard Oil Company) to charge the same price for the same good or service in different states. C) Foreign companies should not be allowed to sell a product in the United States for prices different from prices these companies charge in other countries. D) Identical products should sell for the same price everywhere.
Assume the current equilibrium level of income is $200 billion as compared to the full-employment income level of $240 billion. If the MPC is .625, what change in aggregate expenditures is needed to achieve full employment?
A. A decrease of $12 billion. B. An increase of $25 billion. C. An increase of $10 billion. D. An increase of $15 billion.
The sport where free agency first dominated was
A. soccer. B. baseball. C. football. D. hockey.