If the United States imposes a tariff on the import of Japanese cars instead of a quota, the price
A. increase in Japanese cars goes into the revenue of U.S. automakers.
B. increase in Japanese cars goes into the revenue of Japanese automakers.
C. increase in Japanese cars goes into the revenue of the U.S. government.
D. decrease in Japanese cars comes out of the revenue of U.S. automakers.
E. decrease in Japanese cars comes out of the revenue of the U.S. government.
Answer: C
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Refer to Figure 12-14. Consider a typical firm in a perfectly competitive industry which is incurring short-run losses. Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?
A) Panel A B) Panel B C) Panel C D) Panel D
The "benefits" from government programs to reduce mismatch unemployment include reduction in
A) private costs such as lost income and erosion of job skills. B) private costs such as lost leisure and lower alcohol consumption. C) social costs such as lower unemployment compensation and welfare payments. D) A and C.
The 1990s saw inflation fall and real growth increase in the U.S. and in many other countries. This is partially attributed to all of the following except:
A. redesign of many central banks. B. technological innovation. C. central banks focused more on exchange rates in a global environment. D. central banks became better at their jobs.
Deregulation includes reducing governmental control over some aspects of private industry, while increasing control of others.
Answer the following statement true (T) or false (F)