If the U.S. government imposes a quota on leather shoes, then net exports of U.S. shoes would
a. rise.
b. not change.
c. fall.
d. rise, not change, or fall depending on what happened to the exchange rate.
a
You might also like to view...
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
Madison has an income of $50, which she spends on Pizza (P) and soft drinks (S). Her marginal rate of substitution is MRSPS = S/P. The price of pizza (PP) is $5 and the price of soft drinks (PS) is $2.50. Finally, the formula for her indifference curves is given by S = 2U/P (a) Find Madison's uncompensated demand curve for pizza. (b) Find Madison's compensated demand curve for pizza
What will be an ideal response?
Which of the following conditions best explain the short-run economies of operation associated with production of an information product?
A. AVC is constant, and AFC slopes downward, so that ATC slopes downward. B. AFC is constant, and MC slopes downward, so that AVC slopes downward. C. AVC slopes downward, and AFC is constant, so that ATC slopes downward. D. MC is constant, and MC slopes upward, so that AVC slopes upward.
Loans by the Federal Reserve to banks are known as
A) repurchase agreements. B) Federal funds. C) discount loans. D) cash items in the process of collection.