A U.S. tariff on French wine will likely benefit U.S. wine producers and the U.S. government (by increasing tax revenue), but harm U.S. wine drinkers and French wine producers
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to the accompanying figure. When P = 4, the price elasticity of demand for the demand curve D1 is ________ and D2 is ________.
A. 1/3; 3 B. 3; 3 C. 1/3; 2/3 D. 2/3; 1/3
A consulting firm estimates the following quarterly sales forecasting model:Qt = a + bt +cDThe equation is estimated using quarterly data from 2005 I - 2015 III (t = 1,..., 43). The variable D is a dummy variable for the second quarter where: D = 1 in the second quarter, and 0 otherwise. The results of the estimation are: 
Given the above, these estimates indicate that the second quarter change in sales is
A. 24.5 units higher in the second quarter than in the other three quarters. B. 1.86 units higher in the second quarter than in the other three quarters. C. 2.00 units higher in the second quarter than in the other three quarters. D. 22.5 units higher in the second quarter than in the other three quarters.
Refer to the graph below. All of the following development would allow a movement from point C to a point outside the production possibilities curve, except:
A. An increase in the supply of resource
B. An improvement in the quality of resources
C. A reduction in unemployment of resources
D. A technological advance
Under a floating exchange rate, the exchange rate
A) is determined by the interaction of supply of the currency and demand for the currency. B) is controlled by central bank intervention. C) is pegged against the euro. D) will change whenever the price of gold changes.