Raising an existing tariff on grapes from Chile will:
a. increase U.S. imports of Chilean grapes
b. increase U.S. consumption of domestically produced grapes.
c. increase total U.S. consumption of grapes.
d. do all of the above.
b
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When a country has a current account deficit, the country
A) is borrowing from abroad. B) is lending abroad. C) must have a government budget surplus. D) must have a government budget deficit.
If an insurance company underestimates the number of high-cost customers, it is likely to face ________.
A) adverse selection B) the principal-agent problem C) moral hazard D) the bad apple problem
Suppose the consumer price index (CPI) for a given year is 150 . This means the rate of inflation for the given year is 50 percent
a. True b. False Indicate whether the statement is true or false
From the beginning of 2007, the value of the U.S. dollar
a. dropped sharply against major currencies. b. increased mildly against major currencies. c. remained stable relative to major currencies. d. fluctuated with no major trend against major currencies.