Which of the following statements is true with respect to a tariff on imported cheese?
A. It lowers the price of cheese.
B. It lowers domestic cheese producers' profits.
C. It creates tax revenues for the government.
D. It cannot result in retaliation.
Answer: C
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A decrease in the reserve ratio will
A. cause the money supply to decrease. B. not affect the money supply. C. cause the money supply to increase. D. decrease the money multiplier.
One key assumption of the classical model is
A) government spending plays a major role. B) money illusion cannot fool workers. C) wages are sticky. D) prices are sticky.
Which of the following compose the reserves of a commercial bank?
a. checkable deposits and time deposits b. vault cash and deposits of the bank with the Federal Reserve c. U.S. securities and stock equity d. cash and U.S. securities
When are businesses likely to outsource some of their activities?