The production side efficiency loss of a tariff is caused by
A) confusion about prices when a tariff is imposed.
B) higher profits gained by foreign producers.
C) the expansion of relative inefficient domestic production.
D) the contraction of domestic consumption.
E) the increase in government revenue.
C
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Which of the following statements is true?
A) In cases of auctions and bilateral negotiations, prices tend to approach the competitive equilibrium. B) Bilateral negotiations allow a single buyer and a single seller to privately negotiate with bids and asks. C) In auctions, buyers prefer buying from sellers with the highest ask prices. D) In auctions, sellers prefer selling to buyers with the lowest bid prices.
In 2001, the labor force participation rate of women was ________
a. about 10 percent. b. about 25 percent. c. just over 60 percent. d. more than 80 percent.
Regarding wealth and environmental quality,
a. richer people are more willing to make sacrifices to gain greater environmental quality. b. poor nations are less resilient when faced with the threats caused by environmental degradation. c. richer people are more able to make sacrifices to gain greater environmental quality. d. all of the above
Which of the following statements is false?
A) Keynes believed that the level of investment depends on more than just the interest rate. B) Saving is the difference between disposable income and consumption. C) Keynes believed that saving is more responsive to changes in income than to changes in the interest rate. D) According to Keynes, wage rates may fall too quickly when the economy is in a recessionary gap.